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Top related persons:
Cyrus Hodes - 3 Mostaque - 3 Emad Mostaque - 2 Hodes - 2 — - 1 Tayab Waseem - 1 Mike Bloomberg - 1 Waseem - 1
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London Wall Silicon San Francisco federal Hodes United Arab Emirates Britain U.S
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Service - 2 Court - 2 Business - 1 Intel - 1 Getty Images - 1 Bloomberg - 1 Eastern - 1 of - 1

Search resuls for: "Cyrus Hodes"


3 mentions found


☆ Stability AI: Cofounder Sues Startup Behind Stable Diffusion for up to $300 Million
  + stars: | 2024-01-17 | by ( Riddhi Kanetkar | ) www.businessinsider.com   time to read: +3 min
Tayab Waseem claims that he was a cofounder in Stability AI and that the company has reneged on its promise of a 10% stake in the London-based AI startup. Stability AI rose to prominence in 2022 when users flooded its Stable Diffusion program, generating images of everything from hyperrealistic portraits to fantasy landscapes. Stability AI raised an undisclosed amount from Intel in October 2023. Waseem joined Stability AI when the cofounders, Mostaque and Hodes, were launching a project called CAIAC, which used AI to combat COVID-19, Waseem told BI. AdvertisementAccording to the filing, Stability AI had not paid him a formal salary due to cash flow problems, instead promising him 10% in equity interest.
Persons: —, Tayab Waseem, Emad Mostaque, Cyrus Hodes, Mostaque, Mike Bloomberg, Waseem Organizations: Service, Business, Intel, Getty Images, Bloomberg, Court, Eastern, of Locations: London
☆ Stability AI cofounder dumped his entire stake for a mere $100 just months before company hit a $1 billion valuation
  + stars: | 2023-07-20 | by ( Zahra Tayeb | ) www.businessinsider.com   time to read: +3 min
The cofounder of Stability AI dumped his stake for $100 just months before the company hit a $1 billion valuation. The firm has sought a $4 billion valuation more recently, and Hodes' shares would have been worth over $500 million on that basis, he said in a lawsuit. The cofounder of artificial-intelligence startup Stability AI took a massive notional loss — when he dumped his 15% stake for a mere $100 just months before the company hit a $1 billion valuation. The suit is "without merit" and Stability AI will "aggressively defend our position," the company said in emailed comments. Stability AI, which is known for developing the open-source, text-to-image generator Stable Diffusion, was founded in 2020 and quickly rose to fame for its text-to-image product.
Persons: Cyrus Hodes, Hodes, ChatGPT, Jensen Huang, Mohammad Emad Mostaque, Mostaque, It's Organizations: Service, Nvidia, Stability, Hodes Locations: Wall, Silicon, London
☆ Stability AI is sued by co-founder who says he was duped in to selling stake for $100
  + stars: | 2023-07-13 | by ( Jonathan Stempel | ) www.reuters.com   time to read: +2 min
Hodes, a self-described "world-renowned thought leader" in artificial intelligence, said Stability AI and Mostaque also never revealed their talks with venture capital firms before Mostaque bought his stake in October 2021 and May 2022. Stability AI said in an email: "The suit is without merit and we will aggressively defend our position." He said he had worked "countless hours" since early 2020 at Stability AI, including on an ultimately unsuccessful project to help governments respond faster to the COVID-19 pandemic. Stability AI describes itself as the "world's leading open source generative AI company," whose technology is open to the public, as opposed to at closed source companies. In May, the stock photo provider Getty Images asked a London court to stop Stability AI from selling its image-generation system in Britain, citing alleged copyright violations.
Persons: Cyrus Hodes, Emad Mostaque, Mostaque, Hodes, Harvard University's John F, Jonathan Stempel, Matthew Lewis Organizations: YORK, United Arab, Harvard University's, Kennedy School of Government, Getty, Bloomberg News, Court, Northern District of, Thomson Locations: San Francisco federal, London, Hodes, United Arab Emirates, Britain, U.S, Northern District, Northern District of California, New York
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