Sean Parker is rebuilding Stability AI around music
Sean Parker is rebuilding Stability AI around music, he told The Information, saying he is playing by the rules this time. Parker co-founded Napster, and the report notes he concedes that asking for forgiveness rather than permission did not work out well previously.
Two years ago Parker joined an $80 million rescue of Stability AI, the image-generator startup that nearly collapsed after overspending and internal turmoil led to founder Emad Mostaque's ouster. Prem Akkaraju, described as Parker's longtime friend, became CEO, and the two are now disclosing what they have been building.
Parker says the aim is to turn Stability into the go-to AI toolmaker for music professionals. In late August the company announced $76 million in funding from parties including Sony, Warner, and Universal, which also licensed their catalogs for training as part of the deal.
Stability has since released three new audio models and AI music-editing software, according to the report. The AI can generate whole instrumental tracks or short snippets from text prompts. Parker says an upcoming update will let users hum a melody or beatbox a drum pattern to steer it.
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Publisher excerpt
Sean Parker, who once taught the music industry what asking for forgiveness looks like, is now back with the labels' blessing and money.