London-based startup Stability AI appoints ex-Weta Digital CEO Prem Akkaraju as CEO, raising $80m in funding for open-source AI models.
Stability AI, the London-based startup behind popular AI image-generator Stable Diffusion, has appointed ex-Weta Digital CEO Prem Akkaraju as its new CEO and secured $80m in fresh funding from investors, including Sean Parker, Coatue Management, Lightspeed Venture Partners, and Eric Schmidt. The company's new focus will be to deliver more powerful AI models and continue its commitment to open-source principles.
June 25, 2024
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