Stability AI Raises Seed Round at $1 Billion Value (1)

The parent company of Stable Diffusion, an artificial intelligence tool that makes digital art, has reached unicorn status after raising funds from some top names in venture capital.

Stability AI Ltd. raised $101 million in a seed round led by Coatue Management and Lightspeed Venture Partners, according to a statement reviewed by Bloomberg News.

The round values London-based Stability AI at around $1 billion, according to a person familiar with the matter who asked to not be identified because the details are private. A representative for Stability AI declined to comment on the valuation.

Stable Diffusion is among a ...