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Cash-strapped Stability AI raises $80 million with new CEO and board

Summary by Channel News Asia
Stability AI said on Tuesday it has raised funds and appointed industry veteran Prem Akkaraju as its top boss, months after the exit of founder and CEO Emad Mostaque compounded troubles at the cash-strapped generative AI startup. The firm has raised about $80 million in funding, according to a person fami

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Channel News AsiaChannel News Asia
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Cash-strapped Stability AI raises $80 million with new CEO and board

Stability AI said on Tuesday it has raised funds and appointed industry veteran Prem Akkaraju as its top boss, months after the exit of founder and CEO Emad Mostaque compounded troubles at the cash-strapped generative AI startup. The firm has raised about $80 million in funding, according to a person fami

·Singapore
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Channel News Asia broke the news in Singapore on Tuesday, June 25, 2024.
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