Character.AI Files for Bankruptcy, Disney Offers $20 Million for Its Tech
Character.AI filed for bankruptcy after five years in business. The company had been valued at $2.7 billion in a past Google deal. Disney is now offering $20 million for its chatbot technology. Character.AI says it will shut down if no buyer is found.
Why it matters & sources
Why it matters: The quick collapse shows how fast an AI company's value can disappear, even after major safety concerns and a big-name investor.
Sources: arstechnica.com · the-decoder.com · techcrunch.com