Character AI Files Bankruptcy and Sells Assets to Disney
Character AI has filed for Chapter 11 bankruptcy in the United States and agreed to sell certain assets and intellectual property licenses to Walt Disney for twenty million dollars. The generative artificial intelligence platform intends to maintain normal operations while seeking court approval for an auction.
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Character.AI has filed for Chapter 11 bankruptcy in the United States and agreed to sell assets to Walt Disney Co for $20 million. The generative artificial intelligence platform listed estimated assets and liabilities between $50 million and $100 million in court documents filed on Monday morning. The filing triggers a court-supervised auction process that could reshape the startup's future or lead to a complete wind-down.
