British artificial intelligence startup Stability AI is in talks with a group of investors for a large equity investment to inject funds into the cash-strapped firm, a company spokesperson told. -May 16, 2024 at 10:38 pm EDT
- MarketScreener
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Stability AI: The Information, which first reported the discussions, said the investor group included Facebook s first president, Sean Parker, and former CEO of visual effects company Weta Digital, Prem Akkaraju.
2 years after purchasing the VFX company’s tools, pipeline, technology and engineering talent pool, the company moves to refocus on video game development, with a goal to become a major player in the professional M&E market; it will also shutter 14 offices.