Midjourney is an independent research lab and generative AI tool that creates images, and increasingly video, from natural-language text prompts. Founded by David Holz - also the founder of motion-sensing company Leap Motion - Midjourney entered public beta in 2022 and quickly became known for producing distinctively stylized, high-realism output that stood apart visually from competing image generators.
Unusually among major AI labs, Midjourney has remained entirely self-funded, never raising outside venture capital, and reports roughly $300 million in annual revenue as of 2026 driven by its subscription model. Because it has never raised a priced round, no confirmed valuation exists; outside estimates vary widely and should be treated as speculation rather than fact. The company continues to iterate on its core model, with V7 as the current default and a V8 alpha in testing.