Stability AI shifts focus to music tools with backing from major labels
The company has released three audio models and music-editing software as Sean Parker and chief executive Prem Akkaraju target music professionals.
Stability AI is repositioning itself as a maker of AI tools for music professionals, two years after Sean Parker joined an $80 million rescue of the company. Parker and chief executive Prem Akkaraju are leading the shift.
TechCrunch reports that Stability AI announced $76 million in funding in late August from investors including Sony, Warner and Universal. The labels also licensed their music catalogues for training, according to the report.
Stability AI has released three audio models and music-editing software. The tools can generate instrumental tracks or shorter snippets from text prompts.
Parker says a future update will let users steer generation by humming a melody or beatboxing a drum pattern. The report gives no release date for that feature.
Parker co-founded Napster and told The Information he is now working within the rules of the music industry. The source does not detail the catalogue licence terms or how the licensed material will be used.
