From Inc · · 1m
Disney Accused Character.ai of Copyright Infringement
Disney leads $20m bid to buy bankrupt AI startup Character.ai after copyright dispute.
In brief
Disney leads $20m bid to buy bankrupt AI startup Character.ai after copyright dispute. Disney is bidding $20 million for Character.ai assets following a copyright dispute after the AI startup filed for bankruptcy. Originally reported by Inc.
Character.ai files for bankruptcy
Character.ai, the AI chatbot company once valued at $1 billion, filed for Chapter 11 bankruptcy protection Monday.
Disney leads $20m bid for assets
Disney is the $20 million lead bidder for Character.ai assets and a nonexclusive license to some intellectual property.
Company expects transaction by late November
Character.ai expects the transaction to conclude by late November or early December.
Disney and copyright dispute
Disney has emerged as a $20 million lead bidder for Character.ai assets following a copyright dispute.
Company's AI platform continues
Character.ai said its artificial intelligence platform will continue operating as negotiations continue.
Company's bankruptcy rationale
The company stated it took meaningful steps to sustain and improve its business amid legal, regulatory, and operational headwinds.
The key point
Disney is bidding $20 million for Character.ai assets following a copyright dispute after the AI startup filed for bankruptcy.
