WPP buys into AI with StabilityAI investment
Global advertising giant WPP has invested in technology pioneer StabilityAI in a strategic move to get closer to the AI source.
The value of the deal has not been released, but WPP characterises it as a “partnership” that sits on top of its existing annual $610m spend on AI.
StabilityAI was founded in 2019, and gained an early lead in text-to-image generation with its open source Stable Diffusion engine, released in 2022.