“According to The Information, the company generated less than $5 million in revenue in the first quarter of this year, while losing more than $30 million.”
Stability AI raised $100 million at a $1 billion valuation in 2022. It now has about $100 million in unpaid bills, key researchers gone, a CEO who left to “pursue decentralized AI” and a Getty Images lawsuit. It lost more than six dollars for every dollar it brought in. Whoever buys it gets a famous model, a pile of debt and the lawsuit.