Google parent company Alphabet(GOOGLpunchoutarcadegame.US) and Meta(META.US) have held discussions with major Hollywood film companies, hoping that they can license IP content for the two technology giantspunchoutarcadegameArtificial intelligence video generation software.

Both companies are reported to be developing technology that can create realistic scenes based on text prompts, and have provided tens of millions of dollars in funding to work with film companies. In addition, Microsoft-backed competitor OpenAI is engaged in similar conversations.

Warner Bros. Discovery (WBD.US) has expressed willingness to license some of its content to train models, but only for specific departments, not all.

Walt Disney and Netflix are reluctant to license their content to these technology companies, but have shown interest in other types of collaborations.

OpenAI's Sora, Alphabet's Veo and Meta's Make-A-Video are all under development to help filmmakers create realistic scenes based on textual instructions.

Previously, Google reached important content licensing agreements with news publishers and Internet companies to train artificial intelligence models.

While Hollywood studios are interested in using artificial intelligence to help cut costs, they intend to protect their content and creative partners. A major concern during last year's Hollywood strike was the impact of artificial intelligence on the work of writers and actors.