HomeArtificial IntelligenceCash strapped Stability AI raises $80 million with new CEO and board

Cash strapped Stability AI raises $80 million with new CEO and board

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According to a person familiar with the matter, Stability AI has raised about $80 million in funding from a group of investors including Coatue Management, Lightspeed Venture Partners, and former Google CEO Eric Schmidt. The firm also released AI models to generate audio and video using text prompts and named former Facebook President Sean Parker as executive board chairman of its board.

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