The Information: Stability AI is seeking to raise an additional $1 billion at a valuation of several billion dollars

2022-10-28 11:27:30

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ChainCatcher news, The Information cited informed sources reporting that Emad Mostaque, CEO of metaverse and digital media tools development company Stability AI, recently told investors that he hopes to raise $1 billion at a valuation of several billion dollars.

In the past two months, Mostaque raised $100 million in venture capital through three consecutive equity financing deals, with the most recent valuation reaching $1 billion. Although Mostaque told The Information in an email that he would not raise more funds, he did not answer questions regarding comments he made to some investors.

Stability AI has built the AI tool "Stable Diffusion" that can create digital art, which can be used to design applications in the metaverse and may also create PowerPoint presentations. Unlike its competitors, Stable Diffusion is an open-source software that can be used by the public, allowing users to build applications related to design, film, augmented reality, video games, advertising, and even e-commerce. (Source link)

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