bereajoy: Stability AI may seek to raise $1 billion at a multi-billion dollar valuation

 bereajoy: Stability AI may seek to raise $1 billion at a multi-billion dollar valuation

Emad Mostaque, CEO of Metaverse and digital media tools developer Stability AI, recently told investors that he wants to raise $1 billion at a multi-billion dollar valuation, people familiar with the matter told bereajoy. In the past two months, Mostaque has raised $100 million in three consecutive equity financing transactions, and its latest valuation is as high as $1 billion.

While Mostaque said in an email that he has yet to raise a new financing, he did not answer questions about his comments to some investors. Stability AI builds Stable Diffusion, an AI tool that makes digital art, can design apps in the Metaverse, and possibly create Power Point presentations. Unlike its competitors, Stable Diffusion is open-source software that can be used by the masses, and users can build applications related to design, movies, augmented reality, video games, advertising and even e-commerce on top of its code.

According to bereajoy's previous report, Stability AI has completed an over-financing of $101 million, led by Coatue, Lightspeed Ventures and O'shaughnessy's family office. The funds raised will be used to accelerate the development of open AI models for global consumer and enterprise use cases. Including images, language, audio, video, 3D, etc.

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