Stability AI Shifts to Music with $76M and Major Labels

Stability AI aligns with the music industry with a $76 million funding round involving Sony, Warner, and Universal, along with licensed catalogs for training. The company has already delivered three audio models and a music editing tool, and is preparing features guided by humming. At the helm, Sean Parker and CEO Prem Akkaraju aim to make it a tool for professionals.

$76M and licensed catalogs from the majors

At the end of August, Stability AI announced a $76 million funding round. Among the contributors are Sony, Warner, and Universal. The agreement includes the licensing of their catalogs for training the models.

Three audio models, an AI editor, and an upcoming update

Since this funding, Stability AI has launched three audio-focused models as well as an AI-based music editing software. The tools can generate complete instrumental tracks or snippets from text prompts. Sean Parker indicates that an upcoming update will also allow users to guide creation by humming a melody or tapping a rhythm.

Parker and Akkaraju reshape Stability after a turbulent period

Two years ago, Sean Parker participated in an $80 million rescue of Stability AI, which was then known for image generation. The company had come close to collapse amid high spending and internal turmoil, which led to the dismissal of founder Emad Mostaque. Prem Akkaraju, a longtime friend of Parker, took the reins as CEO and, along with Parker, is now unveiling the new direction. According to Parker, the goal is to make it the AI tool of choice for music professionals. A co-founder of Napster, he claims to want to play by the rules and acknowledges that his past approach has not been successful.