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Character Technologies filed for Chapter 11 bankruptcy protection in Delaware with $14 million in monthly compute costs against $1 million in revenue. Walt Disney has emerged as the opening bidder for the company's assets with a $20 million offer for a non-exclusive license.
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Key sources
- SOURCE@reuters“files for bankruptcy, agrees to sell some assets for $20 million”x.com
- SOURCE@jason_koebler“spending $14 million/month on compute alone at a time their revenue was around ~$1 million/month”x.com
- SUPPORT@edzitron“first dead AI startup, one of the first big names!”x.com
- SUPPORT@ns123abc“disney steps in with $20m opening bid”x.com
- SUPPORT@max_paperclips“basically everyone and everything involved was acquired, and everyone got rich”x.com
- SUPPORT@gergelyorosz“Google basically acquihired the founding team, leaving a zombie company behind”x.com
- SUPPORT@hedgiemarkets“listing assets and liabilities of $50 million to $100 million each”x.com
- SOURCEhuggingnewshuggingnews.com