Following a review of the global team, we have determined the need to restructure parts of the business, which will sadly mean saying goodbye to some colleagues... intended to right-size parts of the business and focus our operations, critical to setting us on a more sustainable path.
Despite the popularity of its models, the extreme cost of the GPUs on which Stability's work depends resulted in massive losses... the AI biz was on track to spend $99 million... but by early autumn had already apparently defaulted on its AWS tab.
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