However, Stability AI has been facing financial challenges, with reports of delayed or unpaid wages and payroll taxes. The company recently raised $25 million through a convertible note, bringing its total raised to over $125 million. Despite this, it has not closed new funding at a higher valuation. The startup also recently lost Ed Newton-Rex, VP of audio, over a disagreement about copyright and how copyrighted data should be used to train AI models.
Key takeaways:
- Stability AI has announced Stable Video Diffusion, an AI model that generates videos by animating existing images. The model is currently in a "research preview" stage and users must agree to certain terms of use.
- The model comes in two forms, SVD and SVD-XT, which can generate videos at between three and 30 frames per second. They were trained on a dataset of millions of videos and then fine-tuned on a smaller set.
- Stability AI plans to build on and extend SVD and SVD-XT and create a "text-to-video" tool. The ultimate goal is commercialization, with potential applications in advertising, education, entertainment and more.
- Stability AI has faced financial difficulties, with reports of delayed or unpaid wages and payroll taxes. The company recently raised $25 million through a convertible note, bringing its total raised to over $125 million.