Stability AI appoints new CEO, the Information reports

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:British artificial intelligence startup Stability AI has appointed Prem Akkaraju as its new chief executive officer, the Information reported on Friday, citing a person involved in the decision.

The company had said in May it was in talks with a group of investors for a large equity investment into the cash-strapped firm.

The new funding will likely shrink the stakes of some existing investors, who have collectively contributed more than $100 million, according to the report.

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Category: EconomyBusiness

Markets: Singapore

Topics: Mediacorp Group Firm Company 2024 Akkaraju Investors Experience Stability Report File

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-22 @ 02:54:56 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 188 words

Reading Time: 2 minutes read

Sentences: 7 lines

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Copyright Owner: © Channel News Asia

News ID: 21331894

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