Artificial-intelligence startup Higgsfield has raised fresh funds at a $5.4 billion valuation, highlighting investor enthusiasm for the next generation of visual media.

The San Francisco-based video- and image-creation platform said Monday that the new funding more than quadruples its valuation of $1.3 billion during its Series A funding round and extension.

Higgsfield raised $400 million in its Series B financing, led by DST Global, with participation from firms including Tribe Capital, Growth Equity at Goldman Sachs Alternatives, Smash Capital and Fifth Wall.

Existing investors such as Accel, Menlo Ventures, AI Capital Partners and GFT Ventures also participated in the Series B, Higgsfield added.

The company said the funding reflects a shared conviction that its platform will reshape and power the next generation of visual media. The funding came as Higgsfield earlier this month reached $700 million in annualized revenue.

"Every business needs visual content, but creating it at the quality, speed and scale companies demand remains complex and expensive," Co-Founder and CEO Alex Mashrabov said. "AI is fundamentally changing that."