Higgsfield quadruples to $5.4B on $700M of AI video revenue

Higgsfield's price tag went from $1.3B in January to $5.4B in August — a 4x markup in six months. The $400M Series B was led by DST Global, with Growth Equity at Goldman Sachs Alternatives, Intel Capital, Tribe, Smash, Fifth Wall, Valor, Liberty Global Tech Ventures, Mirae Asset and NTT DOCOMO Ventures joining. Accel and Menlo, already on the cap table, re-upped.

The number that moved investors: $700M annualized revenue, up from roughly $200M at the end of 2025 and $500M in June. The model is consumption-based — users burn credits across the Web Studio, the Diffuse mobile app and Higgsfield Ads — and about 70% comes from enterprise, brands paying per seat and per render for ad clips, product shots and social content. The platform claims ~4.5M video clips generated per day, off tools like Soul 2.0 for image gen and Keyframes for storyboards. Management is targeting a $1B run rate by year-end.

That puts the round at roughly 7.7x current annualized revenue — cheap by 2026 AI standards, which tells you what investors think the growth curve looks like. Money goes to global sales, infrastructure, research and hiring.

Why it matters: AI video stopped being a demo and became an ad-industry line item — and the budgets are enterprise-sized.