Stability AI CEO, after ruffling feathers of researchers, discussed $1 billion in new financing

2022/10/28 03:57

According to TheInformation, Emad Mostaque, the former hedge fund manager who made his startup, Stability AI, one of the most visible standard-bearers of software that creates original images from simple text descriptions, could soon test the limits of hype around the new technology. After raising $100 million of venture capital in three successive equity funding deals in the last two months, most recently at up to a $1 billion valuation, Mostaque recently told investors he wanted to raise an additional $1 billion of capital at a multibillion-dollar valuation, according to two people with knowledge of the founder’s comments.

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