Character.AI files for bankruptcy, will sell assets to Disney

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Character.AI, a generative AI startup known for its chatbots, has filed for Chapter 11 bankruptcy protection. The company announced the filing on Monday to facilitate a sale of itself and its assets. Disney is acquiring some of these assets as part of the process. The startup has faced legal challenges and safety scrutiny over its products but had continued to release updates recently.

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Character.AI Files for Bankruptcy, Sells Assets to Disney

Interactive chatbot platform Character.AI has filed for bankruptcy after five years of operation. The startup has agreed to sell some of its assets to Disney for $20 million. The bankruptcy filing marks a significant downturn for the company. This move follows the company's efforts to manage its financial challenges.

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