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Stability AI has secured a significant lifeline from a group of investors including Sean Parker, Greycroft, Lightspeed, and Coatue. The funding round also saw the appointment of former WETA Digital CEO Prem Akkaraju and Sean Parker joining Stability AI's board as Chair. Additionally, investors managed to negotiate the forgiveness of $400 million in debt and future obligations from Stability AI's suppliers and cloud providers. The investment was reported by TechCrunch and involved Silicon Valley VCs.
Stability AI raises new finance, appoints Sean Parker as Chair - Complete Music Update https://t.co/Da4ePcJWTx
Stability AI secures funding from Lightspeed and Coatue - UKTN https://t.co/TvXUfcA28Z
ICYMI: Stability confirmed @nmasc_ & my reporting, w/ a new investment led by Sean Parker & Prem Akkaraju. More interesting, though, is how the investors got Stability's suppliers & cloud providers to forgive $400MM in debt & future obligations: https://t.co/KKYJdiAcm7
