Character.AI files for bankruptcy as Disney bids $20 million for assets
Original titleCharacter.AI files for bankruptcy
AISummary
Character.AI has filed for Chapter 11 bankruptcy in the US to facilitate a sale of the company and its assets.
Disney is the lead bidder, offering $20 million for certain undisclosed assets, transition support, and a nonexclusive license to unspecified intellectual property.
The company expects the sale to close by late November or early December and warns the platform will be wound down if no suitable bid emerges.
AIWhy it matters
The source gives the sale terms, Disney's $20 million bid, and the acquihire context, showing how a troubled AI startup's assets and talent are being transferred.
Source: The Verge · AI · theverge.comPublished · added here