Sean Parker is rebuilding Stability AI around music
techcrunch ·
Sean Parker, the co-founder of Napster, is leading a strategic pivot at Stability AI to focus primarily on music technology. After joining an $80 million rescue effort two years ago following internal turmoil and the ouster of founder Emad Mostaque, Parker and CEO Prem Akkaraju are now unveiling their new direction. The company aims to become the premier AI toolmaker for music professionals by securing significant industry support. In late August, Stability AI announced a $76 million funding round that included investments from major labels Sony, Warner, and Universal. As part of this deal, these record labels licensed their catalogs for training purposes, ensuring compliance with industry standards. Stability has since released three new audio models and editing software capable of generating instrumental tracks or snippets from text prompts. Additionally, upcoming updates will allow users to guide the AI by humming melodies or beatboxing drum patterns.
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