Posted 3/23/2024, 5:57:06 AM
Stability AI CEO Steps Down to Pursue Decentralized AI Amid Cash Flow Concerns
- Stability AI CEO Emad Mostaque resigned to pursue decentralized AI, believing centralized AI companies have too much power
- Mostaque was the majority shareholder and said it was his decision to step down
- This follows struggles at Stability AI, which was spending $8M/month and unsuccessfully tried to raise at a $4B valuation
- Mostaque previously said focusing on revenue was "strange" given AI breakthroughs, but recently said Stability AI aims to be cash flow positive this year
- His resignation caps a week where AI startup Inflection AI had co-founders & staff join Microsoft, which led their last funding round