UK’s Stability AI secures funding; gets new CEO
Summary
Besides funding, the UK company has also announced the appointment of Prem Akkaraju, an investor and highly experienced media, entertainment, and technology executive, as CEO. We will continue to release the most cutting-edge open models for the community while meeting the overwhelming demand for AI solutions from large-scale corporations. Founded by Mohammad Emad Mostaque, Stability AI is known for its image generation platform Stable Diffusion. According to the company claims Stable Diffusion has been downloaded over 150 million times and has played a key role in creating many online AI-generated images. The company’s latest release, Stable Diffusion 3, has quickly become the top-downloaded model with over 2 million downloads since its launch earlier this month.