British company Stability AI, which develops tools for generating images with the help of artificial intelligence, has announced the appointment of a new CEO and the attraction of a significant investment to continue its development.
The new management of Stability AI
Change of the head of the company
Prem Akkaraju, who was invited to this position, became the new general director of Stability AI from Weta Digital, where he previously held a leadership role. The previous founder and CEO, Emad Mostak, left the company in March 2024 after a series of problems and the loss of key employees.
Investment attraction and debt settlement
According to media reports, Stability AI managed to attract about 80 million dollars in new investment from a group of investors including Greycroft, Coatue Management, Sound Ventures, Lightspeed Venture Partners and O'Shaughnessy Ventures. In addition, investors agreed to forgive the company about $100 million in debt and $300 million in future liabilities.
New Board Members
Former Facebook President Sean Parker has joined the Stability AI Board of Directors as executive chairman, along with Greycroft's Dana Settle, Coatue Management's Colin Bryant and Prem Akkaraju as CEO. Jim O'Shaughnessy stepped down as chairman, while Shan Shan Wong and Christian Lafort retained their roles as chief operating officer and chief technical officer, respectively.
Glossary
- Stability AI is a British company that develops tools for generating images using artificial intelligence, in particular Stable Diffusion.
- Prem Akkaraju is the new CEO of Stability AI, previously worked at Weta Digital.
- Emad Mostak is the former founder and CEO of Stability AI, who left the company in March 2024.
- Getty Images is a well-known photo bank that filed a lawsuit against Stability AI.
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Discussion of the topic – AI stability: new CEO and $80 million investment for artificial intelligence development
The British startup Stability AI has announced the appointment of a new head - Prem Akkaraja, the former head of Weta Digital. The company also raised about $80 million in investment for further growth in the field of artificial intelligence.
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Віктор
Very interesting news! I am pleased that Stability AI is strengthening the team and has attracted investment for further growth. They have made a breakthrough in AI for image generation with Stable Diffusion. 🚀 I wonder what new features they plan to introduce?
Анна
It seems that the new management will focus on stabilizing the company and settling legal issues. $80 million is enough to continue the development of Stable Diffusion. But they need to resolve the conflict with Getty Images as soon as possible. 🕵️♀️
Пауль
I have already used Stable Diffusion and was impressed with the quality of the generated images! 🖼️ This is a truly breakthrough technology. I hope that the new management will focus on improving the algorithms and expanding the capabilities of the tool.
Альберто
On the one hand, new investments are good. But on the other hand... will the capitalists and big players ruin the philosophy of open AI that the founder of Stability AI espoused? 🤔 I hope the company will remain true to its principles.
Ганс
All this is interesting, but we should not forget about the ethical issues of using AI. Do you think Stable Diffusion can generate images without infringing copyright? After all, they have already received a lawsuit from Getty Images. 💭
Зигмунд
Ah, these new trends and technologies! Away with them! 😠 It is better to read a good book by the fireplace than to play with these artificial intelligences. They will never replace real art!
Софія
I do not agree with you, Sigmund! 🙅♀️ AI is the future, and it's already here. Stable Diffusion opens up new horizons for creativity and self-expression. I can't wait to see what else Stability AI has in store for us!
Лукаш
In my opinion, the main task of Stability AI is to make the tool as accessible as possible to users. Stable Diffusion has huge potential in design, marketing, entertainment and more. 💻 I hope new investments will help them in this.