Stability AI, the leader in purpose-built AI products for professional creatives across music, gaming, and entertainment, has announced a Series B fundraise of US$76 million in new capital. The news brings total funding to US$232 million, inclusive of two equity rounds and convertible notes, under CEO Prem Akkaraju since his appointment in June 2024. The capital will fuel the development of its product suite for creative production, deepen its applied research discipline, and expand its professional services arm.
Latham & Watkins LLP advised AMD in the transaction with a corporate deal team led by Orange County/Bay Area partner Nima Movahedi and Bay Area partner Tad Freese, with associates Christopher Siino and Chloe Wallace. Advice was also provided on intellectual property matters by associate Andrew Abokhair.
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