Utopai, co-founded by former Google engineer Cecilia Shen, acquired South Korean production company Alquimista Media in January 2026 and reached a $1 billion valuation.

In January 2026, Utopai acquired 100% of Alquimista Media, a South Korean production company led by Hyun Park (former head of Warner Bros. Asia). The acquisition gives Utopai access to 15 drama and film projects in active development.

Utopai is focused on generating long-form AI content (extended narrative pieces rather than short clips). The studio's business model targets what Shen calls 'a completely blank market' in long-form content production.

Carmelo Anthony's investment revealed Utopai's latest valuation of $1 billion. The studio has backing from PlutoTV, former Paramount+ president Tom Ryan, and filmmaker Roland Emmerich (director of Independence Day and The Day After Tomorrow).

Forbes estimates that Space Nation and Cortés—two projects in development co-produced with filmmaker Marco Weber—could generate combined revenue as high as $110 million, with further growth expected if sold to other regions or global streaming platforms.