Al·che·my is the process of transformation, creation, and combination. It is in this conceptual space that we frame the convergence of human and computational creativity within generative deep learning technologies, specifically text-to-image AI architectures. Mystical traditions like alchemy, mediumship, and astrology provide stylized frameworks for interpreting black-boxed complex systems. By turning to these methodologies for generative AI, AI Alchemy reifies the magic and unknowability of these machines, yet still centers agency on human creators to manifest artifacts in line with their vibes. This series of talks, interactive events and research aims to encapsulate these ideas through practice, but also through learning from others via talks and healthy debate.