According to Odaily, Stability AI, a leading artificial intelligence company, has secured an investment exceeding $100 million. The funding round was led by an investment group headed by Sean Parker. The exact amount of the investment, however, has not been disclosed.
In addition to the funding news, Stability AI also announced a change in its leadership. Prem Akkaraju, the former CEO of visual effects company Weta Digital, will take over the position. This change in leadership is expected to bring new perspectives and strategies to the company's operations.
Previously, Stability AI had announced a collaboration with Render Network. The partnership aims to leverage a decentralized GPU network to expand AI training and inference capabilities on a large scale and at a low cost. This strategic move is expected to significantly enhance the company's AI capabilities and market position.