Stability AI was founded in 2020 by Emad Mostaque. The company has not publicly endorsed plans to participate in an IPO, with Mustaque, the company's CEO, emphasizing the importance of employees retaining their voting rights within the company.
Stability AI is the developer of Stable Diffusion, an open source text-to-image generator. Like other text-to-image generators, Stability AI's product employs deep learning technology. The company differs, however, in its approach to content moderation—Stability AI has drawn attention for its lack of filters and restrictions. The company has raised more than $100 million in venture capital funding from investors including Coatue Management, Lightspeed Venture Partners, and O'Shaughnessy Ventures. In late 2022, Forbes reported that the company is in talks to raise new capital at a $1 billion valuation.
These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.