WPP invests in Stable Diffusion owner Stability AI

WPP has announced a strategic partnership and investment in Stability AI, the company behind Stable Diffusion, a text-to-image model that helped kick off the generative AI craze just over two years ago. Financial terms of the deal were not disclosed, though WPP described it as a minority investment. The partnership will focus on bringing Stability’s generative AI tools for content production into WPP’s technology hub, Open. WPP’s clients will have access to Stability’s primary image model as well as its models that produce video, audio and 3D objects. Agency Review Tracker Stay up to date with the latest account reviews Click here WPP will provide its market insights and consumer expertise to help Stability design enterprise tools for creatives and brands. This proximity to Stability’s product development could, in turn, allow WPP to offer its clients first access to the newest AI marketing tools. “Now is the time to bring our models and workflows to even more brands globally,” Prem Akkaraju, CEO of Stability, said in a statement. The deal comes as the ad industry attempts to align itself more closely with AI to take full advantage of the creative opportunities that the technology is enabling. Holding companies are spinning out AI-focused practices while agencies are pitching brands on behalf of AI startups such as Perplexity. Earlier today, WPP also announced on LinkedIn that it is integrating Google’s AI video tool, Veo 2, in its Open hub. Last year, the ad giant partnered with AI startup Anthropic to bring its Claude models into Open, where OpenAI’s GPT-based models are also available to clients. Ad Age Small Agency Awards Showcase your agency’s creativity, business success and commitment to a thriving workplace. Enter today In June, Stability raised about $80 million in funding from a group of investors Coatue Management, Lightspeed Venture Partners and former Google CEO Eric Schmid, Reuters reported, citing a person familiar with the matter. That investment came after the AI startup held discussions about a potential sale. In January 2024, WPP committed to spending $318 million annually on AI. Much of the agency group’s focus has gone into Open, which the company has used to service clients including Coca-Cola, L’Oréal, Nestlé and Ford.

WPP invests in Stable Diffusion owner Stability AI

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