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Stability AI Secures Funding from Intel: A Boost for Open Source Startup

Summary

Stability AI, a British startup specializing in generative artificial intelligence, has recently secured funding from Intel, according to a report by Bloomberg. The latest investment from Intel, valued at less than $50 million (£41 million), comes in the form of […]

Stability AI Secures Funding from Intel: A Boost for Open Source Startup

Stability AI, a British startup specializing in generative artificial intelligence, has recently secured funding from Intel, according to a report by Bloomberg. The latest investment from Intel, valued at less than $50 million (£41 million), comes in the form of convertible bonds.

This “rescue” transaction, reportedly concluded last month, will provide a much-needed financial boost for Stability AI, which has been facing challenging times. The decision by Intel to invest in Stability AI follows the recent announcement of building an AI supercomputer relying on Xeon processors and 4,000 Gaudi2 AI processors, as stated in Bloomberg’s report.

The chip manufacturer has declined to comment on the latest investment in Stability AI. However, a spokesperson for Stability AI revealed that the company has been “the subject of repeated interest in capital raising from large venture capital investors and strategic investors” in recent months.

Stability AI, founded in 2021, is best known for its Stable Diffusion software, which generates images based on text. The British AI startup currently boasts a community of over 200,000 creators, developers, and researchers, along with research centers worldwide.

Supported by Stability AI, research communities are also working on developing AI models that can be applied in various fields, such as coding, language, sound, images, 3D content, video, design, biotechnology, and other scientific disciplines.

Facing challenging times, Stability AI recently laid off a portion of its workforce. However, the company hopes that the new investment from Intel will provide the necessary support for recovery and further development.

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