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AI & Enterprise

Disney moves to hire most staff at bankrupt chatbot startup Character.AI

Disney plans to hire most employees of AI chatbot startup Character.AI, which has sought bankruptcy protection, as it looks to strengthen its in-house AI capabilities. Disney agreed to make job offers to at least 60 staff with total annual compensation estimated at about $60 million. Court filings show most recipients accepted. Disney also agreed to buy some Character.AI assets for $20 million, though the deal is not final and could change in the bankruptcy sale.

AI & Enterprise

Benchmark says AI ecosystem not the problem, flags causes of stock swings

Venture capital firm Benchmark said it does not plan to accelerate its investing pace despite the AI investment boom. Its five partners said they aim to keep new investments at 2 to 3 deals per partner annually. Benchmark raised $2 billion this summer across two funds, its second-largest fundraise in its 31-year history. Partners said market swings reflect distorted information and volatility rather than fundamental problems in the AI ecosystem.

AI & Enterprise

AI chatbot Character.AI seeks bankruptcy protection as Disney places bid

Character.AI, an AI chatbot platform once valued at $1 billion, has filed for bankruptcy protection and entered a court-supervised sale process. The company cited failed fundraising, monthly operating losses of up to $9 million and legal burdens tied to protecting minors. Walt Disney is the first bidder with a $20 million offer for certain intellectual property and legal claims. Character.AI plans to keep services and subscriptions running during the process.