By Emilia David , a reporter who covers AI. Prior to joining The Verge, she covered the intersection between technology, finance, and the economy.

Stability AI lays off roughly 10 percent of its workforce

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2024-04-20 04:00:14

By Emilia David , a reporter who covers AI. Prior to joining The Verge, she covered the intersection between technology, finance, and the economy.

Stability AI laid off 20 employees just a day after announcing the expansion of access to its new flagship model. This comes after weeks of upheaval that saw its founding CEO leave the company.

CNBC reports that the layoffs at the UK-based AI company, which runs the Stable Diffusion text-to-image model, represent roughly 10 percent of its workforce. In a memo to staff, interim CEOs Shan Shan Wong and Christian LaForte say the decision to let go of employees is part of a “strategic plan to reduce our cost-base, strengthen support with our investors and partners, and enable teams to continue developing and releasing innovative products.”

Stability has had a rocky few months, with several high-profile researchers and its founder and CEO, Emad Mostaque, leaving the company. Mostaque stepped down from his role and the company’s board in March, stating he wants to “pursue decentralized AI.”