Back in February, James Gunn stated that the Infinity Stones aren't really a thing in Guardians of the Galaxy Vol. 2 but he's now taken to his Facebook page to emphatically refute any fan theories that one of the two remaining power sources for the Infinity Gauntlet appear in his sequel. This news also comes after Gunn has confirmed that Thanos doesn't appear either, though one would think he'd have a bone to pick with the Guardians following their actions to foil his plans in the first film.
Instead, the villain of the film is Elizabeth Debicki's Ayesha, aka Her. It will be interesting to see just how much of her comic book origin is reatined for the film as her creation is closely tied to Adam Warlock.