Stability AI Secures $101 Million Investment

Oct 17th, 2022Funding
  • Stability AI announced a funding round of $101 million on October 17, 2022, intended to accelerate development of open AI models in various domains.

  • This funding round was led by Coatue, Lightspeed Venture Partners, and O'Shaughnessy Ventures LLC.

  • Founder and CEO Emad Mostaque emphasized the importance of open and accessible AI technology for societal benefit and innovation.

  • Their product Stable Diffusion, a text-to-image generator, has been widely adopted with over 200,000 developers and has led to the creation of over 170 million images.

  • Stability AI is headquartered in London and aims to develop AI technology for the good of humanity, with operations and developers around the world.