According to TheInformation, Emad Mostaque, the former hedge fund manager who made his startup, Stability AI, one of the most visible standard-bearers of software that creates original images from simple text descriptions, could soon test the limits of hype around the new technology.

After raising $100 million of venture capital in three successive equity funding deals in the last two months, most recently at up to a $1 billion valuation, Mostaque recently told investors he wanted to raise an additional $1 billion of capital at a multibillion-dollar valuation, according to two people with knowledge of the founder’s comments.