Disney found a way to buy Character.AI without buying its lawsuits
Summary
Chatbot platform Character.AI has filed for bankruptcy as part of an agreement allowing Disney to hire most of its employees, including its former chief executive. Court documents show the arrangement also enables Disney to potentially acquire the startup's technology while bypassing its ongoing legal troubles.
This week, Character.AI declared bankruptcy. While some saw the fall of a chatbot platform as a harbinger for the industry, court filings indicate that the decision was actually a key part of a deal that has let Disney hire most of Character.AI’s staff—including its now former CEO Karandeep Anand—potentially acquire most of Character.AI’s technology, and avoid the beleaguered startup’s many…
Source: Read the full story at Ars Technica - All content