Stability AI has appointed Prem Akkaraju as its new CEO, following a cash infusion led by investors including Sean Parker, former Facebook President. Akkaraju, previously CEO of Weta Digital, joins amidst efforts to secure a substantial equity investment to alleviate financial strain. The funding, potentially lowering the firm’s valuation, aims to support Stability AI, which has attracted over $100 million from existing investors. The British AI startup, facing liquidity challenges, refrained from commenting on the developments but signaled ongoing negotiations with investor groups since May.