![]() The terms “large language model” and “LLM” will become less common. At that rate, the $50 million investment won’t last through the end of 2024.ģ. For Intel’s part, the investment seems to reflect a pressing desire to get a high-profile customer to commit to its new AI chips as it seeks to gain ground against competitor Nvidia.īut Stability has a notoriously high burn rate: at the time of the Intel investment in October, Stability was reportedly spending $8 million a month while bringing in a small fraction of that in revenue. One thing Stability has going in its favor: the company recently raised $50 million from Intel, a cash infusion that will extend its runway. Next year, we predict the beleaguered company will buckle under the mounting pressure and shut down altogether.įollowing pressure from investors, Stability has reportedly begun looking for an acquirer but so far has found little interest. The company tried and failed earlier this year to raise additional funds at a $4 billion valuation. The two firms that led Stability’s high-profile $100 million financing round last year, Coatue and Lightspeed, have reportedly both stepped off the company’s board in recent months amid disputes with Stability CEO Emad Mostaque. Departures in recent months include the company’s chief operating officer, chief people officer, VP engineering, VP product, VP applied machine learning, VP comms, head of research, head of audio and general counsel. ![]() It is one of the AI world’s worst-kept secrets: once-high-flying startup Stability AI has been a slow-motion train wreck for much of 2023.
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