Company · Voice, image & video
Luma AI revenue, valuation & funding
Luma AI was valued at roughly $4B in its $900M Series C in November 2025, and Forbes reported a $9B round in March 2026 that Luma hasn't confirmed. It's private with no public IPO plans, and its only revenue figure is Sacra's estimate of $8M annualized for December 2024.
At a glance
- Valuation: roughly $4B at its $900M Series C in November 2025. Forbes reported a March 2026 round at $9B, which Luma hasn't confirmed.
- Revenue: no figure from the company. Sacra estimated $8M in annualized revenue for December 2024.
- Status: private. No stock ticker and no public IPO plans.
- Founded: September 2021, by Amit Jain and Alex Yu.
- CEO: Amit Jain.
- Headquarters: Redwood City, California, per its about page. Press coverage through mid-2026 called it Palo Alto-based.
- Investors: HUMAIN, AMD, Andreessen Horowitz, Amazon, Amplify Partners and Matrix Partners, among others.
- Products: the Ray video models, the UNI image models, Luma Agents and the Dream Machine app.
Is Luma AI public? Can you buy its stock?
No. Luma AI, Inc. describes itself as a private technology company. Its shares don't trade on any stock exchange, and it has no ticker symbol.
Revenue Memo reported in October 2026 that Luma has no public IPO plans. It added that no debt facility, tender offer or employee share sale has been disclosed.
Its shares are held by its founders, staff and investors. HUMAIN led its latest confirmed round, and its stake hasn't been disclosed. This page reports facts and gives no investment advice.
Valuation, round by round
Its valuation went from a reported $200M to $300M in January 2024 to roughly $4B in November 2025, more than ten times in under two years.
| Date | Valued at | Raised | Led by | Source |
|---|---|---|---|---|
| Mar 2026 | $9B | — | — | Revenue Memo |
| Nov 2025 | — | $900M | HUMAIN | Luma's website |
| Dec 2024 | — | $90M | Amazon (reported) | Revenue Memo |
| Jan 2024 | $200M | $43M | Andreessen Horowitz | TechCrunch |
| Mar 2023 | — | $20M | Amplify Partners | Luma's website |
| Oct 2021 | — | $4.3M | Matrix Partners | Revenue Memo |
Luma hasn't confirmed the $9B round Forbes reported for March 2026, and no amount or investor was reported. The $90M round in December 2024 had no reported valuation.
Revenue
Luma hasn't disclosed revenue. Sacra estimated $8M in annualized revenue for December 2024, after the Dream Machine app launched in November.
| Date | Figure | Basis | Source |
|---|---|---|---|
| Dec 2024 | $8M | Estimate | Sacra |
A run rate is a month's revenue times twelve and isn't audited revenue. Revenue Memo said in October 2026 that no later figure has been disclosed.
How Luma AI makes money
Luma doesn't disclose revenue or results. Sacra says it earns money from subscriptions for creators, licensing for studios and agencies, and API access for developers.
- Subscriptions. Tiered plans for individual creators, per Sacra. Sacra
- Enterprise. Plans for studios and agencies come with Forward Deployed Creatives, SOC2 compliance and a promise not to train on customer content. Luma's about page
- API access. Developers pay to build video generation into their own products, per Sacra. Sacra
- Production services. In April 2026 Luma and Wonder Project launched Innovative Dreams, a production company backed by Amazon Web Services. Luma's about page
- Partners abroad. In February 2026 it opened a Riyadh office to speed up Humain Create and partner with Publicis Groupe. Luma's about page
Products
- Ray, its video generation model. Luma lists the current Ray model as released in June 2026. Luma's about page
- UNI, its model for image and multimodal generation. Luma's about page
- Luma Agents (March 5, 2026). AI collaborators for creative work across text, image, video and audio. Luma's about page
- Ray3 (September 2025). Marketed as "the world's first reasoning video model" and the first to generate 16 bit HDR. AI Wiki
- Photon (November 25, 2024). A text-to-image foundation model. AI Wiki
- Dream Machine (June 12, 2024). Its text-to-video model and consumer app. Luma's about page
- Open Physical AI Lab (June 2026). An open-science research effort on physical AI and robotics. Luma's about page
Users and usage
Dream Machine gained one million users within four days of its June 2024 launch, according to AI Wiki.
By November 2024 Luma said it had 25 million registered users. When Ray3 launched in September 2025, Luma said Dream Machine powered creation for more than 30 million users.
Leadership
Two co-founders, Alex Yu and Alberto Taiuti, had left Luma by October 2026, according to AI Wiki. Chief Scientist Jiaming Song was reported to have left in May 2026.
Luma said it had over 130 staff when it announced the Series C in November 2025. Its careers page listed more than 250 team members in October 2026.
- Amit Jain, co-founder and CEO. He previously worked on product design for Apple Vision Pro and in Apple's computer vision team. Luma's about page
- Alex Yu, co-founder, listed on Luma's about page as CTO. He is known for early work on neural radiance fields. Luma's about page
- Jiaming Song, Chief Scientist, known for research on diffusion models including DDIM. Luma's about page
- Alberto Taiuti, co-founder, who had left by October 2026. AI Wiki
Who owns Luma AI?
Its founders, staff and investors. As a private company it doesn't publish who holds what, and no stake has been disclosed.
- HUMAIN led the $900M Series C in November 2025. Saudi Arabia's PIF launched it in May 2025, and Tareq Amin runs it. Revenue Memo
- AMD, Andreessen Horowitz, Omniva, Amplify Partners and Matrix Partners also took part in the Series C. Luma's website
- Amazon and AMD took part in a $90M round in December 2024 that Luma never announced itself. Revenue Memo
- Andreessen Horowitz took part in the $43M Series B in January 2024. TechCrunch
- Amplify Partners led the $20M Series A in March 2023, joined by General Catalyst and NVIDIA's venture arm. Luma's website
- Matrix Partners led the $4.3M seed round in October 2021. Revenue Memo
Competitors
Timeline and latest news
From its founding to the latest reports, newest first.
- Aug 25, 2026Latest
Druyan-Sagan Associates sued over a Carl Sagan audio clip in an ad for Ray 3.14. Law Commentary - Jun 2026Latest
Launched the Open Physical AI Lab for research on physical AI and robotics. Luma's about page - Apr 2026Latest
Launched Innovative Dreams with Wonder Project, a production company backed by Amazon Web Services. Luma's about page - Mar 5, 2026
Announced Luma Agents for creative work across text, image, video and audio. Luma's about page - Mar 2026
Forbes later reported a round this month at a $9B valuation, which Luma hasn't confirmed. Revenue Memo - Feb 2026
Opened a Riyadh office to speed up Humain Create and partner with Publicis Groupe. Luma's about page - Nov 19, 2025
Raised $900M in a Series C led by HUMAIN. Luma's website - Sep 2025
Released Ray3, marketed as a reasoning video model with 16 bit HDR. AI Wiki - Jun 12, 2024
Launched Dream Machine, its text-to-video model. Luma's about page - Jan 9, 2024
Raised a $43M Series B with Andreessen Horowitz taking part. TechCrunch - Oct 2021
Raised a $4.3M seed round led by Matrix Partners. Revenue Memo - Sep 2021
Founded by Amit Jain and Alex Yu. Luma's about page
Legal matters
The holder of Carl Sagan's rights sued Luma in August 2026 over an ad for one of its models.
- Druyan-Sagan Associates (filed August 25, 2026, Los Angeles). Claims of copyright infringement, false endorsement and unfair competition over an eight-second Sagan audio clip in an ad for Ray 3.14. Law Commentary
- Status. As of an August 30, 2026 report, the case was pending in the Central District of California and Luma had not filed a response. Law Commentary
Questions people ask
Is Luma AI a public company? Can I buy Luma AI stock?
No. Luma AI is private and has no ticker, so its shares aren't sold on any exchange.
When will Luma AI IPO?
It has no public IPO plans, Revenue Memo reported in October 2026.
Who owns Luma AI?
Its founders, staff and investors, including HUMAIN, AMD, Andreessen Horowitz, Amazon, Amplify Partners and Matrix Partners. Stakes haven't been disclosed.
Who is the CEO of Luma AI?
Amit Jain, its co-founder. He previously worked on Apple Vision Pro and in Apple's computer vision team.
Who founded Luma AI?
Amit Jain and Alex Yu, in September 2021. Alberto Taiuti is also named as a co-founder.
How much is Luma AI worth?
Roughly $4B after its $900M Series C in November 2025, per an insider quoted by TheWrap. Forbes reported a March 2026 round at $9B, which Luma hasn't confirmed.
How much revenue does Luma AI make?
Luma hasn't disclosed revenue. Sacra estimated $8M in annualized revenue for December 2024.
How does Luma AI make money?
Subscriptions for creators, enterprise plans for studios and agencies, and API access for developers.
How many people use Luma AI?
Luma said Dream Machine powered creation for more than 30 million users in September 2025, according to AI Wiki.
Who are Luma AI's competitors?
Runway, which Sacra calls a direct competitor, and OpenAI, Google and Meta.
People on Real Alpha
- Amit Jain, Co-founder & CEO, Luma AI
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How this page is sourced
Each figure links to the filing, company statement or news report it came from, with its date. Run rates are what reporters were told, not audited results; estimates and unconfirmed reports are marked. Quotes are what each person said on the record, with the minute they said it. Spotted something that's off? .
Last checked Nov 8, 2026