Stability AI, the world’s first community-driven, open-source artificial intelligence (AI) company, announced today in London and San Francisco a USD USD 101 million funding round. Stability AI, led by Coatue, Lightspeed Venture Partners, and O’Shaughnessy Ventures LLC, will use the funding to accelerate the development of open AI models for image, language, audio, video, 3D, and other consumer and enterprise use cases globally.
“AI has the potential to solve some of humanity’s most pressing problems,” said Emad Mostaque, Stability AI’s founder and CEO. “However, we will only be able to realize this potential if the technology is open and accessible to all; stability AI returns power to developer communities, paving the way for game-changing new applications; an independent entity in this space supporting these communities can create real value and change.”
Stability AI created Stable Diffusion, a powerful, free, and open-source text-to-image generator that debuted in August. Stable Diffusion has been downloaded and licensed by over 200,000 developers worldwide since its release. DreamStudio, Stability AI’s consumer-facing product, quickly grew to well over a million registered users from more than 50 countries, with a total of more than 170 million images created.
“At Coatue, we believe that open source AI technologies have the potential to unleash human creativity and achieve a greater good,” Coatue general partner Sri Viswanath said. We are very excited to be a part of Stability AI’s journey and eager to see what the world does with Stability AI’s technology.”
“At Lightspeed, we believe that an independent company like Stability AI is best positioned to democratize generative AI,” said Gaurav Gupta, partner at Lightspeed Venture Partners, referring to the company’s open-source model and collaboration with AI developer communities, which has allowed it to innovate quickly and make the technology freely available to people everywhere.”
More about the startup:
Stability AI intends to generate revenue by training “private” models for customers and serving as a general infrastructure layer. It also provides a platform and API, DreamStudio, through which individual users can access its models — According to Mostaque, DreamStudio has more than 1.5 million users who have created over 170 million images, and Stable Diffusion has more than 10 million daily users “across all channels.”
Meanwhile, the open-source version of Stable Diffusion has been downloaded over 200,000 times, according to a press release issued this morning by Stability AI.
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