Stability AI, an artificial intelligence startup known for its image-generation technology, has appointed Prem Akkaraju, former CEO of Weta Digital, as its new chief executive officer. The company also named Napster cofounder Sean Parker as its executive chairman. Stability AI has secured an $80 million investment from a group of investors led by Parker, which includes contributions from notable figures such as Eric Schmidt and Greycroft. This financial boost is part of a broader recapitalization effort aimed at addressing the company's mounting costs and executive turnover. Additionally, some suppliers have forgiven debt obligations, further stabilizing the company's financial situation. The company continues to focus on generative AI innovations and the development of open-source models.