Stable Diffusion 3 is an advanced text-to-image AI model under Stability AI. It comprises various models ranging from 800M to 8B parameters, supporting multimodal inputs, video and 3D output, and simplified prompts. The model seeks to democratize access to generative AI technology by offering high scalability and quality. It also emphasizes user privacy and data security, making it a viable choice for developers, artists, and enterprises.