Google has launched the AI Futures Fund, an initiative aimed at supporting AI startups by providing investment, early access to AI models from Google DeepMind, and hands-on collaboration with Google experts. They are doing this to fund startups and offer Google Cloud credits or potentially direct investments. Startups can apply to the program on a rolling basis, and they have already started backing companies like Viggle and Toonsutra. This highlights Google's commitment to fostering AI innovation.