AI startup Character.ai files for bankruptcy, seeks asset sale

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Character.ai, an artificial intelligence company known for its chatbots, has filed for Chapter 11 bankruptcy protection. The firm plans to sell its assets through an auction process, which will be led by Disney. The company's board believes this sale approach will best serve its stakeholders' financial interests. Prior to this filing, Character.ai had held partnership talks with both Meta and Elon Musk's xAI earlier in 2024.

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