Character.AI Files for Bankruptcy, Agrees to Sell Some Assets to Disney for $20 Million

3-line summary

• AI chatbot company Character.AI filed for Chapter 11 bankruptcy protection in the US and agreed to sell some of its assets to Walt Disney for $20 million, according to Investing.com. The announcement was made Monday, October 12.
• The company said it plans to keep operating its service while the sale is finalized. The report did not specify which assets are being sold or the reasons behind the bankruptcy filing.

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