Diffusion models have achieved remarkable success across a wide range of generative tasks. A key challenge is understanding the mechanisms that prevent their memorization of training data and allow generalization. In this seminar I will discuss the role of the training dynamics in the transition from generalization to memorization. I will show the emergence of two distinct timescales: an early time $\tau_\mathrm{gen}$ at which models begin to generate high-quality samples, and a later time $\tau_\mathrm{mem}$ beyond which memorization emerges. Crucially, we find that $\tau_\mathrm{mem}$ increases linearly with the training set size $n$, while $\tau_\mathrm{gen}$ remains constant. This creates a growing window of training times with $n$ where models generalize effectively, despite showing strong memorization if training continues beyond it. It is only when $n$ becomes larger than a model-dependent threshold that overfitting disappears at infinite training times. These findings reveal a form of implicit dynamical regularization in the training dynamics, which allow to avoid memorization even in highly overparameterized settings. Our results are supported by numerical experiments with standard U-Net architectures on realistic and synthetic datasets, and by a theoretical analysis using a tractable random features model studied in the high-dimensional limit.