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DeepNewz, mobile.
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The chaotic departure of StabilityAI's chief executive officer, Emad Mostaque, has raised doubts about the startup's future. Unpaid bills, bungled contracts, and a disastrous meeting with Nvidia's CEO, Jensen Huang, contributed to Mostaque's downfall. The company was on track to lose more money per month than it made in a year, with issues including reselling GPUs and misleading claims. Despite raising $100 million at a $1 billion valuation, Stability AI faced financial struggles, layoffs, and internal turmoil.
1/ ICYMI: our investigation into Emad Mostaque's fall at Stability AI includes details like... - a disaster meeting with Jensen Huang - GPUs doled out like "it was Candy Land" - more unpaid bills than cash in the bank - current exec's takes - AI Aristotle https://t.co/c3SnpHObwd
How Stability AI’s Founder Tanked His Billion-Dollar Startup https://t.co/VCxJIppC7V
Emad's Stability AI story deserves more attention and shouldn't be hidden behind Forbes' paywall. Here are the details: >> Despite raising $100 million at a $1 billion valuation after launching the popular Stable Diffusion image generator in 2022, Stability rapidly burned… https://t.co/acY8jyTbpB