Disney Offers $20M For Character.AI Assets As Startup Files For Chapter 11 Bankruptcy Protection
By Dade Hayes
After hiring Character.AI’s former CEO as its chief technology officer, Disney is looking to acquire assets from the 5-year-old startup as it files for Chapter 11 bankruptcy protection. The company, which allows users to create and interact with AI-generated avatars, said it made the filing in U.S. Bankruptcy Court…
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Artificial intelligence
Computer systems that perform tasks that normally require human intelligence, such as understanding language, recognising images or making decisions.
AI is changing work, media and public services, raising questions about jobs, safety and regulation.
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A young company built to grow quickly, often around a new product or technology, usually funded by investors.
Startups create new jobs and industries, but most fail, which is why funding rounds are closely watched.
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