Stability AI, maker of image generator Stable Diffusion, raises $76 million in fresh funding
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Stability AI, the startup behind Stable Diffusion, has raised $76 million in Series B funding, bringing its total fundraising to $232 million. The round includes investments from entertainment and gaming companies such as Universal Music Group, Sony Music Group, Warner Music Group, and Electronic Arts, along with AMD Ventures and Pacific Alliance Ventures. CEO Prem Akkaraju described the funding as validation of the company's vision for generative AI in creative fields. The funds will be used to expand Stability's creative production tools and professional services. The company has recently signed partnerships with music and gaming firms to co-develop AI tools rather than just license outputs. Stability also won a UK copyright lawsuit brought by Getty Images, though a similar US case is still ongoing. The company faces a separate lawsuit from co-founder Cyrus Hodes, who claims he was tricked into selling his shares.
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