Stability AI, the maker of the popular AI image generator Stable Diffusion, is in big financial trouble. The startup is facing a severe cash crunch and talks of being sold off, with outstanding bills worth $100 million, having generated less than $5 million in revenue and losing over $30 million in the first quarter of the year.
Former CEO Emad Mostaque raised $100 million for the venture in 2022, but the company has been struggling financially ever since, with wages and expenses surpassing revenue. Mostaque, who had been accused of exaggeration and stepped down in the midst of controversies, left behind a troubled company facing legal battles.
[
add
]
[
|
|
...
]