Music companies Sony Music Group, Universal Music Group and Warner Music Group are leading a $76 million investment round in the British company Stability AI.
The makers of Stable Diffusion were among the first group of companies and research labs in 2022 to bring GenAI within reach of the general public. This company specialised specifically in text-to-image image generation.
This round is notable in the sense that the new participants are mainly from the entertainment industry. Electronic Arts and advertising giant WPP are also putting in dollars. A broad range of mainly American investors sitting on large funds is also taking part.
Stability AI will use the millions of dollars from this, only now, Series B round to expand its suite of creative production tools for music, gaming and entertainment. In addition, part will go to applied research and another part to expanding the commercial organisation.
In May, the model builder released Stable Audio 3.0, a family of open-weight music models trained on fully licensed data, with a DAW plugin for integration into professional workflows.
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