A look at Sean Parker's resurrection of Stability AI following Emad Mostaque's ousting, and its new focus on AI for music professionals, backed by major labels (Abram Brown/The Information)
To the music industry, Sean Parker has been many things. As co-founder of Napster, he was first an “outlaw renegade,” as he himself puts it.
Sean Parker, the co-founder of Napster, is reviving Stability AI with a focus on the music industry. Parker admitted that his previous approach of seeking permission instead of forgiveness led to the startup's financial struggles and the departure of its founder, Emad Mostaque. Two years ago, Parker invested $80 million into Stability AI to rescue it from near-collapse.
Parker's long-time friend Prem Akkaraju now serves as the CEO, and they are unveiling their latest plans. The company aims to become the leading AI tool for music professionals. In August, Stability AI secured $76 million in funding from major industry players such as Sony, Warner, and Universal. As part of the deal, these companies licensed their music catalogs to be used for training the AI models.
Since then, Stability AI has released three new audio models and AI music-editing software capable of generating whole instrumental tracks or short audio snippets from text prompts. Parker added that an upcoming update will enable users to hum a melody or beatbox a drum pattern to guide the AI's output.
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