Higgsfield, the San Francisco startup whose platform generates images and video with AI models, says its annualised revenue has crossed $1 billion, about 18 months after the product launched in March 2025. Co-founder and CEO Alex Mashrabov announced the figure on LinkedIn, and Bloomberg also reported it, Trending Topics writes. Mashrabov, who founded the company in 2023 with Erzat Dulat, previously ran generative AI at Snap after it bought his earlier startup AI Factory in 2020.
The company describes 20-fold growth in a year. By its account the run rate was around $200 million at the end of 2025, $500 million by June 2026 and $700 million by August, when it raised a $400 million Series B led by DST Global at a $5.4 billion valuation, four times its value eight months earlier. It has only had positive gross margins since early 2026, which means that last year it paid more per generated video to compute and model providers than it charged. Mashrabov also claims the platform can cut a business's production costs by as much as 97 percent.
Higgsfield sells a production workspace rather than a model of its own. Customers pay by subscription or with credits, and annual plans make up about 40 percent of revenue. Mashrabov says roughly 70 percent now comes from creative agencies rather than the individual creators the company first expected, with an average customer worth around $1,000 a year. Because new video models arrive almost weekly, the team rebuilt the product soon after launch to run many of them side by side: ByteDance's Seedance, Kuaishou's Kling, Google's Veo, Alibaba's Wan and xAI's Grok Imagine for video, image models from Google, Black Forest Labs, ByteDance and OpenAI, and in-house pieces such as the Soul character model and a system for keeping scenes consistent across shots.
The milestone landed on the same day OpenAI switched off the Sora API, after closing the Sora app and losing its Disney deal earlier in the year; a Wall Street Journal report cited by TechCrunch put Sora's running cost near $1 million a day. Trending Topics reads Higgsfield's growth as demand moving to multi-model platforms, while noting rivals Runway, Pika and Luma, Synthesia's hold on corporate video, and the risk that Google, Kuaishou and ByteDance sell their models to creators directly.
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