Stability AI CEO departs to champion decentralised AI
Stability AI, the developer behind the popular open-source image generation tool Stable Diffusion, announced its CEO Emad Mostaque is stepping down. This news follows the recent appointment of Google DeepMind co-founder Mustafa Suleyman as the head of a new AI team at Microsoft.
“I am proud two years after bringing on our first developer to have led Stability to hundreds of millions of downloads and the best models across modalities. I believe strongly in Stability AI’s mission and feel the company is in capable hands. It is now time to ensure AI remains open and decentralised,” said Emad Mostaque in the company statement.
Mostaque cited a desire to pursue the next frontier in artificial intelligence - "decentralised AI" as his reason for leaving. “Not going to beat centralised AI with more centralised AI,” added Mostaque in a post on X, following his resignation.
Stability AI, backed by venture capital giants, has appointed COO Shan Shan Wong and CTO Christian Laforte as interim co-CEOs while searching for a permanent replacement.
"As we search for a permanent CEO, I have full confidence that Shan Shan Wong and Christian Laforte, in their roles as interim co-CEOs, will adeptly steer the company forward in developing and commercialising industry-leading generative AI products," said Jim O’Shaughnessy, Chairman of the Board at Stability AI.
This bold move reflects the growing interest in decentralised AI, a concept that envisions a network of collaborative AI systems without a central authority. Proponents believe this approach could address concerns about privacy, security, and control in centralised AI.
After securing $101 million in funding at a valuation exceeding $1 billion in October 2022, Stability AI is now rumored to be seeking additional funding at a reported $4 billion valuation.
These developments raise intriguing questions about Stability AI's future trajectory. One thing is clear: the AI industry is in flux, and Stability AI finds itself at the centre of this debate.
The coming months will be crucial as the company navigates this leadership change and determines its future direction in the world of AI.