British AI Startup StabilityAI in Financing Talks Amid Cash Shortage

TapTechNews May 17th news, integrating Reuters and TheInformation, a spokesperson for the British AI startup StabilityAI, regarded as one of the 'giants' in the text-to-image AI field, said that the company is negotiating a large equity financing deal with a group of investors to inject new funds into the currently cash-strapped StabilityAI.

The spokesperson said that StabilityAI is in exclusive cooperation with a 'world-renowned' technology investment group.

It is reported that the company's first-quarter revenue was less than $5 million (TapTechNews note: currently about 36.1 million yuan), and the loss exceeded $30 million (currently about 217 million yuan), and currently owes nearly $100 million (currently about 722 million yuan) to cloud computing providers and other companies.

Before this negotiation for financing, Stability had initiated a round of layoffs, and its founder, Emad Mostaque, also resigned from the position of chief executive. It is known that the company has nearly 200 employees worldwide.

In March this year, StabilityAI released the StableVideo3D model, which can create multi-view 3D videos from a single image. Compared to the previous StableZero123 model or the open-source alternative Zero123-XL, StableVideo3D has significantly improved in quality and has better multi-view functions and more proficient generalization ability, and can more faithfully present the three-dimensional full picture of the input image.