Stable Diffusion Creator Secures $101 Million in a Funding Round

Open-source artificial intelligence company Stability AI announced it has received $101 million in a funding round led by Coatue, Lightspeed Venture Partners, and O'Shaughnessy Ventures LLC.

Stability AI is a company best known for creating Stable Diffusion, a deep-learning text-to-image model used to generate detailed images based on text descriptions as well as capable of inpainting, outpainting, and generating image-to-image translations guided by a text prompt.

According to the company, Stable Diffusion has been downloaded and licensed by over 200,000 developers all over the world since its launch in August. Stability AI also boasts that its other product, DreamStudio, an Ubuntu-based distribution containing tools to create graphics, videos, music, and professional websites, has over a million registered users from over 50 countries who collectively have created more than 170 million images.

Stability AI shared that the capital secured at the funding round will go towards further development of its open AI models for image, language, audio, video, and 3D that can be used globally by both consumers and enterprises.

"AI promises to solve some of humanity's biggest challenges. But we will only realize this potential if the technology is open and accessible to all," founder and CEO of Stability AI Emad Mostaque said. "Stability AI puts the power back into the hands of developer communities and opens the door for ground-breaking new applications. An independent entity in this space supporting these communities can create real value and change."

You can find Stability AI's announcement here. Also, don't forget to join our Reddit page and our Telegram channel, follow us on Instagram and Twitter, where we share breakdowns, the latest news, awesome artworks, and more.