Stability AI closed a $76 million Series B round, bringing its total funding to $232 million since CEO Prem Akkaraju took over in June 2024. Universal Music Group, Warner Music Group, Sony Music Group, and Electronic Arts were among the new strategic investors in this round. The London-based company, creator of the Stable Diffusion model, shifted strategy under Akkaraju’s leadership by prioritizing direct partnerships with rights holders over training on scraped internet data. The funds will be dedicated to developing generative AI tools for professionals in music, gaming, and entertainment.
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