Stability AI Secures $76 Million in Series B Funding, Total Funding Reaches $232 Million

Stability AI has completed a $76 million Series B funding round, bringing its total funding to $232 million. Investors in this round include Universal Music Group, Sony Music Group, Warner Music Group, EA, AMD Ventures, and Pacific Alliance Ventures. Since last year, Stability AI has partnered with multiple companies to jointly develop generative AI tools. CEO Prem Akkaraju stated that this funding round affirms the vision of empowering creators through generative AI. The new funds will be used to expand the creative product suite and professional services business. Stability has largely won a copyright lawsuit in the UK, with the judge ruling in its favor, but a similar lawsuit in the US involving Getty is still ongoing.