Stability AI, which makes music, image and video generators, has closed a $76 million Series B. Universal Music, Sony Music and Warner Music all invested, about a year after licensing deals with the company and three months after it launched Stable Audio 3.0.
New backers also include AMD Ventures and Pacific Alliance Ventures. Returning investors such as Eric Schmidt, Sean Parker, Greycroft and Coatue took part, and Coatue co-founder Thomas Laffont joins the board. James Cameron is already an investor.
Stability says it will spend the money on creative-production tools, research and professional services across music, games and entertainment. Digital Music News notes that label backing comes with conditions, as Suno's disputes with Universal and Sony show.
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