AI Chatbot Platform Character.AI Files for Bankruptcy After Legal Battles; Disney to Acquire Some Assets for $20 Million
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Character.AI, a five-year-old AI chatbot platform that reached unicorn valuation in 2022, has filed for Chapter 11 bankruptcy protection with Walt Disney acquiring select assets for $20 million. The company, founded in 2021 by former Google engineers Noam Shazeer and Daniel De Freitas, filed in U.S. Bankruptcy Court for the District of Delaware on October 13, 2026, listing estimated assets and liabilities between $50 million and $100 million.
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