StabilityAI Appoints New CEO

TapTechNews June 22 - According to a report by foreign media TheInformation, citing sources involved in the decision, the British artificial intelligence startup StabilityAI has appointed Prem Akkaraju as the new chief executive officer.

Prem Akkaraju, the former chief executive officer of the visual effects company WetaFX, is one of the investors including former Facebook president Sean Parker.

It is reported that these investors have contributed a total of more than 100 million US dollars (TapTechNews note: currently about 728 million Chinese yuan), and the new funds may reduce the stakes of some existing investors.

For now, StabilityAI refuses to comment.

TapTechNews previously reported that StabilityAI was exposed to owe nearly 100 million US dollars and is negotiating financing matters with investors.