What is StableCode by Stability AI?
Generative A.I. startups are racing to survive.
Stability AI has been a bit lost in the A.I. hype of late inspite of the loud antics of its founder on podcasts and the startup’s mysterious inability to raise funds at a supposed $4 Billion market cap.
He said “there are no programmers in 5 years”
Fundraising is Grim for Stability A.I. in 2023
In Generative A.I. timelines terms, it seems like an eternity ago when they landed $101 million in funding in October, 2022. They have raised almost $124 million to date. Forbes has published a number of articles targeting the integrity of the CEO. They had to secure a convertible note after fundraising troubles.
The convertible note deal, which raised less than $25 million, happened this spring after Stability AI, distributor of the Stable Diffusion image-generation tool, was said to be seeking to quadruple its valuation. I have no idea who (advised them) or why they thought they were worth $4 Billion.
But you cannot fault them for trying in the middle of Generative A.I. peak season. StableCode seems to be yet another effort to diversify their product base. They announced on August 8th, 2023 the new product in a very crowded field what they call the “very first LLM generative AI product for coding”, which I’m not sure is even true.
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