Sean Parker is rebuilding Stability AI around music

Napster co-founder Sean Parker is rebuilding the image-generator startup Stability AI to serve music professionals. Two years ago, Parker joined an $80 million rescue of the company after overspending and internal turmoil caused its near-collapse and the exit of founder Emad Mostaque. Parker and his long-time friend, CEO Prem Akkaraju, recently secured $76 million in funding.

Sony, Warner, and Universal participated in the late August funding round and licensed their catalogs for AI training. Stability AI has since released three new audio models and music-editing software that creates instrumental tracks and short snippets from text prompts. Parker stated that an upcoming update will allow users to guide the tool by humming a melody or beatboxing a drum pattern.