Stability AI raises $76 million, bringing total to $232 million in funding
Business
Stability AI, the team behind the AI image generation model Stable Diffusion, has landed $76 million in new funding, bringing its total to $232 million.
Big names like Universal Music Group, Sony Music Group, Warner Music Group, EA, and AMD Ventures are backing it.
Stability AI to expand creative tools
The company plans to use this cash to level up its AI-powered tools for making music, videos, and images.
It has teamed up with major music and gaming companies to build creative tech for artists and pros.
On top of that, it recently won a key copyright case in the UK
CEO Prem Akkaraju says this investment is "an affirmation of our vision where generative AI empowers every producer, musician, and storyteller."