Stability AI raises $76M as music giants and gaming studios pile into generative AI

Stability AI just closed a $76M Series B, bringing the company’s total haul to $232M since CEO Prem Akkaraju took the reins in June 2024. The round reads less like a typical venture deal and more like a strategic land grab by the entertainment industry: Universal Music Group, Warner Music Group, Sony Music Group, and Electronic Arts all wrote checks. Who’s backing the bet The new investor list is stacked with names that control enormous catalogs of intellectual property. Universal, Warner, and Sony collectively represent the vast majority of the global recorded music market. Electronic Arts, meanwhile, is one of the largest video game publishers on the planet. Returning investors include Coatue, Greycroft, Kadmos Capital, and a couple of names you might recognize from other corners of tech: Sean Parker and Eric Schmidt. AMD Ventures and Pacific Alliance Ventures also participated in the round. Parker and James Cameron both sit on the company’s board, which gives Stability AI an unusual mix of Silicon Valley pedigree and Hollywood credibility. The company did not disclose its current valuation. From copyright defendant to licensed partner Stability AI’s trajectory over the past two ...