Stability AI secures $76M investment from major music labels and EA
Stable Diffusion’s creators have just raised a whopping $76M in Series B financing led by Universal Music, Sony Music, Warner Music, Electronic Arts, and AMD Ventures. This brings their total funding to $232M since inception.
Stable Diffusion’s creators have just raised a whopping $76M in Series B financing led by Universal Music, Sony Music, Warner Music, Electronic Arts, and AMD Ventures. This brings their total funding to $232M since inception. The funding will be used to develop generative AI technology for music, video, and images.
The fact that the top music labels and a big-name game publisher are investing in Stability AI means that the entertainment industry is turning away from resisting AI-generated media and embracing it instead. Meanwhile, the company was struggling with debt but it’s now partnering up with the same companies that sued AI generators in the past.
Source: techcrunch.com
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Author
Evgenii Arsentev
PhD · Chief Executive Officer, digital health
Articles · Latest articles