Stability AI Is Falling Apart

Instability AI AI image generation company Stability AI is in big trouble. Several key AI developers who worked on Stable Diffusion, the company’s popular text-to-image generator, have resigned, Forbes reports. Stability AI CEO Emad Mostaque announced the news during an all-hands meeting last week, per Forbes, revealing that three of the five researchers who originally created the foundational tech that powers Stable Diffusion at two German universities, had left. It’s a worrying blow to a company that once was at the forefront of the ongoing generative AI race — and a sign that even in the white-hot AI industry, success is anything but guaranteed. Brain Drain The company has already struggled with dwindling cash reserves and departures of executives. In August, six senior hires, including the company’s chief operating officer and head of research, left the company. Researchers close with the original creators of the tech that led to the creation of Stable Diffusion have since accused the company of misleading the public over how much its employees had contributed to the tool’s development, as Forbes previously reported. In other words, Mostaque underplayed just how heavily his company was leaning on existing research by the scientists, several of whom have now left Stability AI. In August 2022, in the early days of the AI craze, Mostaque raised $100 million for the venture at a $1 billion valuation. But after over a year of considerable spending — Bloomberg reported in November that the company was spending $8 million a month — funds…Stability AI Is Falling Apart

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