Sand.ai Raises $200M Series A+; Total $300M in 10 Months, Reaching Unicorn Status
Video generation startup Sand.ai completed a $200 million Series A+ round, bringing its total funding to $300 million within 10 months and achieving unicorn status. The round was co-led by Cornerstone Capital and Wangsu Science & Technology, with participation from Shanghai state capital and Times Capital. The company plans to release the official version of its MoE-architecture model MAGI-2 soon.
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晚点 LatePost
我们了解到，Sand.ai 近日完成 2 亿美元 A+ 轮融资。这是 Sand.ai 今年完成的第三轮融资，10 个月内累计融资额达 3 亿美元，成为视频生成领域的新晋独角兽。 这次融资由基石资本与网宿科技（300017.SZ）联合领投；上海国资及时代资本等知名基金参投，经纬创投等老股东持续加注。网宿科技是中国 CDN（内容分发网络）及边缘计算龙头，曾为字节、腾讯、京东等客户的高并发场景提供服务，也为豆包大模型在 2026 年央视春晚上的表现提供了底层网络与边缘技术支撑。 中国背景的 AI 创业公司中，估值达到独角兽，以视频生成为核心业务的公司只有数家。Sand.ai 由前微软亚洲研究院（MSRA）主管研究员曹越创立，他是视觉模型 Swin Transformer 的主要作者之一，这项研究让计算机能够更高效地识别和理解图像，获得了计算机视觉顶级会议 ICCV 的最佳论文奖。 2026 年，大部分公司开始探索世界模型与具身智能赛道，如爱诗科技、生数科技（Vidu）、Vivix 等发布了相关的模型。Sand.ai 专注于基础模型研发，年中发布并开源了 MoE 架构的视频生成模型 MAGI-2 Preview。 我们了解到，Sand.ai 的新一代更大参数规模的视频生成基础模型 MAGI-2 正式版，使用了 MoE 架构，将于近期发布。 资本争夺视频模型的头部席位 当下，视频生成已经是 AI 领域最有赚钱效应的生意之一。 据《晚点 LatePost》此前了解，截至 2026 年年中，字节跳动 Seedance 2.0 的单月收入已超过 10 亿元，毛利率达到约 70%。2026 年第二季度，快手旗下可灵 AI 的营业收入超过 8.5 亿元，同比增长超过 200%。 7 月，快手宣布推动可灵业务独立融资，融资前估值约 150 亿美元，足额融资后的估值预计达到约 180 亿美元。10 月底，可灵完成增资交割，实际融资约 29.05 亿美元。 两家公司的商业进展，证明视频模型不只是有技术前景，已经能产生规模化收入。随着 AI 视频进入广告、短剧、游戏和影视制作，市场对模型供应商的需求也在分化。对于生产规模较大的客户，拥有多个模型供应商，可以降低成本和供应风险。 资本市场则通过可灵的独立融资，为这类模型业务提供了一个估值参照。可灵证明，资本市场愿意对具备领先模型能力和商业化基础的
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