Diffusion and flow-based models have become the state of the art for generative AI across a wide range of data modalities, including images, videos, shapes, molecules, music, and more! These notes are originally from , as taught at MIT over the 2025 IAP (winter) term, and are intended to accompany other course content, including lectures and labs. Overall, they function as a self-contained introduction to both flow matching and diffusion models, starting with ordinary and stochastic differential equations, and culminating in flow matching, score matching, classifier-free guidance, and the inner workings of modern, state-of-the-art models for image and video. These notes, and the accompanying course, are ideal for students and practitioners alike who want to develop a principled understanding of the theory and practice of generative AI.