We’ve written a few times recently about Stability AI. It’s the company behind the text-to-image Stable Diffusion system, and also a backer of the Harmonai project that recently launched AI music tool Dance Diffusion.
Investors appear impressed: Stability AI has just raised a seed funding round of $101m (to repeat: seed funding!) that values the company at a unicorntastic $1bn.
Bloomberg reported that the funding came as Stable Diffusion is being used by more than 10 million people. Stability AI also said that it’s planning to grow its headcount from 100 to 300 in the next year.
It’s one of the biggest funding rounds (if not the biggest) raised by a startup exploring creative AI technology, and while music may be a relatively small part of what Stability AI is doing, it’s still a company we’ll be keeping a close eye on.
Not least because how Dance Diffusion evolves, particularly around issues like copyright and the training of its AI, will be influential on wider policymaking and licensing in this area.