News on Medial

Stability AI to lay off staff weeks after founder Mostaque resigned as CEO

Economic Times · 1y

AI startup Stability AI is set to lay off some staff as part of a restructuring process following the resignation of founder Emad Mostaque as CEO. The move comes as the company faces tough competition from firms like OpenAI and Mistral. Mostaque stepped down as CEO and from the company's board in March to pursue decentralized AI, leaving behind a board of interim co-CEOs. The number of employees affected by the layoffs has not been disclosed. Stability AI recently released its Stable Diffusion 3 model and counts Lightspeed Venture Partners, Sound Ventures, Coatue, and Intel among its investors.