Stability AI Gets Intel Backing in New Financing

Funding Rounds

▤ Summary

(Bloomberg) -- Stability AI has raised new financing led by chipmaker Intel Corp., according to people familiar with the matter a cash infusion that arrives at a critical time for the company. None An Opioid-Like Drink Is Masquerading As a Wholesome Alcohol Alternative None Worlds Biggest Bank Has to Trade Via USB Stick After Hack None New Call of Duty Draws Harsh Reviews After Rushed Development None US Credit-Rating Outlook Changed to Negative by MoodysStability, the artificial intelligence startup best known for the popular Stable Diffusion image-generating software, raised just under $50 million in the form of a convertible note in the deal, which closed in October, said the people, who asked not to be identified discussing private information.A Stability spokesperson said in a statement that it had received repeated interest over the last few months in fundraising from both major venture capital and strategic investors. In a post Tuesday on X, formerly known as Twitter, Stability Chief Executive Officer Emad Mostaque said, We closed strategic funding ourselves last month (announcements soon).Intel declined to comment on the financing. Coatue, which still holds a $50 million stake in Stability according to multiple people, reported its stake in AMD as recently as August in a filing with the US Securities and Exchange Commission.Another investor, Lightspeed Venture Partners Gaurav Gupta, recently left his role as a board observer at Stability AI amid differences of opinion with management over the direction of the company, according to people with knowledge of the matter. In the spring it raised a relatively small convertible note from investors, compared with its earlier funding round, Bloomberg reported in June.The London-based startup is spending millions of dollars per month, according to two people with knowledge of the matter, who asked not to be identified discussing private information.

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Investors Intel Lead investors
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