Stability AI, an artificial intelligence startup known for its image-generation technology, has appointed Prem Akkaraju, former CEO of Weta Digital, as its new chief executive officer. The company also named Napster cofounder Sean Parker as its executive chairman. Stability AI has secured an $80 million investment from a group of investors led by Parker, which includes contributions from notable figures such as Eric Schmidt and Greycroft. This financial boost is part of a broader recapitalization effort aimed at addressing the company's mounting costs and executive turnover. Additionally, some suppliers have forgiven debt obligations, further stabilizing the company's financial situation. The company continues to focus on generative AI innovations and the development of open-source models.
Stability AI appoints new CEO and closes funding round reportedly worth $80M https://t.co/ACEcnVHWrG
Cash-strapped Stability AI raises $80 mln with new CEO and board https://t.co/lpLC655cKN https://t.co/sGcpQAg7tv
Former WETA Digital CEO Prem Akkaraju, Sean Parker Join Stability AI As It Closes Funding Round https://t.co/BC2UBNg9F1
Stability AI Secures Investment from Top-Tier Institutions and Tech Leaders https://t.co/j1HvCqQN3H @StabilityAI #AIwire #TCIwire
Cash-strapped Stability AI raises $80 mln with new CEO and board | Reuters https://t.co/SOa5NKZAFX
Stability AI - which helped spark the modern AI boom - gets new leadership, $80M in funding from Sean Parker, Eric Schmidt + other VCs plus ~$400M in debt (past & future) wiped out. Now they just have to turn AI into money. More here: https://t.co/DcnCOsVuTD
LA-based Stability AI named media and tech exec Prem Akkaraju CEO and Napster founder Sean Parker executive chair as the imaging, language, code and audio generative AI company closed an initial investment round https://t.co/jnhmrRjjN6
Exciting news from Stability AI! 🚀 @sparker backing up the leading generative AI startup, setting the stage for more innovation in tech. What's next for AI creativity? 💡 #AIinnovation #techgrowth https://t.co/v3p5nr7PY5
"Our investment in Stability AI enables the continued development of open-source, open access, and open-weight models for the benefit of the entire community." - Very great news! :) Thank you so much for all your support so far @StabilityAI https://t.co/U6tI9zxRxU
🤖🇺🇸 Stability AI secures a vital boost from Sean Parker & Greycroft! This lifeline could steer the AI pioneer out of troubled waters and into a bright future, revolutionizing the generative AI landscape. https://t.co/LOjjaZu2PE
Stability AI lands a lifeline from Sean Parker, Greycroft - TechCrunch https://t.co/SekNuXkYJM
Stability AI Secures Significant New Investment from World-Class Investor Group and ... https://t.co/UkBwuBzfnr
Stability AI, an artificial intelligence startup that’s struggled with mounting costs and executive turnover, named a new chief executive officer and got an injection of cash from several investors. https://t.co/x69M2KvpPu
Stability AI says it closed a new funding round; sources: investors committed $80M to take over the company, and some suppliers have forgiven debt obligations (@dseetharaman / Wall Street Journal) https://t.co/8Vxvbbrs9p https://t.co/BgcEQXQugQ
Stability AI has some big news…. We’re delighted to have secured significant investment from a world-class investor group including top-tier institutions such as @greycroftvc, @coatuemgmt, @sound_ventures_, @lightspeedvp, @osventuresllc, and renowned operators and tech… https://t.co/CN9PMfGxTp
Stability AI lands a lifeline from Sean Parker, Greycroft: https://t.co/93bT1SvJQu by TechCrunch #infosec #cybersecurity #technology #news
🎉Wow, what a surprise! Stability AI has miraculously raised more money, but are keeping the amount hush-hush. I'm sure that's totally normal, right? Read more about their mysterious lifeline from big names like Sean Parker and Greycroft here: https://t.co/VCRH4TBaEQ
Stability AI lands a lifeline from Sean Parker, Greycroft https://t.co/CoVTdgdJew
Stability AI announces new investment from notable investors Sean Parker, Eric Schmidt, and Prem Akkaraju. #investment #StabilityAI #news
Investors are committing $80 million to take over Stability AI, an image-generation startup that took off with the artificial-intelligence boom but quickly ran into problems https://t.co/71w3HRdphA
Investors are committing $80 million to take over Stability AI, an image-generation startup that took off with the artificial-intelligence boom but quickly ran into business problems https://t.co/hV3hZjw7uD
Stability AI Gets a New CEO and a Cash Injection https://t.co/qF98az4wvJ
Stability AI Gets New CEO, Restructuring Amid Turmoil ► https://t.co/YLGGnoZ3eP https://t.co/YLGGnoZ3eP
Stability AI gets new leadership as gen AI innovations continue to roll out | VentureBeat https://t.co/KUDSxKWE85
Stability AI Appoints New CEO https://t.co/JSPzpDiQgN
Stability AI gets new leadership as gen AI innovations continue to roll out https://t.co/cbS4DZlZ2h
Stability AI appoints new CEO, the Information reports https://t.co/gyokwhVglO https://t.co/I9mOUT33Eu
Wow. Stability AI's new CEO is Prem Akkaraju, Ex-CEO of the legendary VFX studio Weta Digital. SVD could've been competitive with Runway/Luma, but they dropped the ball. In fact, Luma AI got video out the door so quickly because they hired the folks behind Stable Cascade.… https://t.co/Yyg5IVz4GC
Stability AI Gets New CEO and a Bailout From Investor Group Led By Sean Parker https://t.co/LOUhuC4y2G
Source: Stability AI hired ex- CEO of Weta Digital Prem Akkaraju as new CEO; Akkaraju and Sean Parker are among investors that have stepped in to save Stability (The Information) https://t.co/Pk9WK3tWD1 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/rwGGItaRXY
Stability AI Gets New CEO and a Bailout From Investor Group Led By Sean Parker — The Information https://t.co/KXDxaCpSJy
Stability AI gets a new CEO and an investment found led by Sean Parker https://t.co/e4wVRguo8D
Big collab week w/ @nmasc_ The latest: Stability AI is bringing on former Weta Digital CEO Prem Akkaraju as its new CEO, and Napster cofounder Sean Parker as its chairman. The two are also leading a recapitalization for the startup. https://t.co/3gCTdAXjko
Stability AI's New CEO: A former visual effects CEO will lead Stability as a Sean Parker-led group bails out the startup. https://t.co/umIQupiSUN From @steph_palazzolo and @nmasc_.
Scoop w @steph_palazzolo: Stability AI has a new CEO and a recap in the works https://t.co/WX9svK1WL5