Stability AI secures investments from Greycroft, Coatue Management, Sean Parker, Prem Akkaraju, Eric Schmidt, and Robert Nelsen. Parker as executive chairman and Akkaraju as CEO. Focus on open-source principles to target multiple markets.
Investors reportedly helped forgive $100 million in debt and reduce future debt by $300 million for Stability AI. Company facing challenges post-founder's departure and financial instability, with substantial layoffs.
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