Disney agrees to rent nearly all of Character.AI’s workforce

After chatbot startup Character.AI filed for bankruptcy earlier this week, a lot of its staff can have the chance to take jobs at Disney.

Character.AI’s former CEO Karandeep Anand just lately became the entertainment giant’s first CTO, and the startup beforehand mentioned that Disney had agreed to amass a few of its property for $20 million.

A legal filing noticed by Bloomberg revealed extra particulars in regards to the settlement between Character.AI and Disney, with Disney agreeing to make employment provides to not less than 60 Character.AI staff — nearly all of the workforce — paying them an estimated $60 million in annual compensation.

The submitting additionally says that the “overwhelming majority” of Character.AI staff who have been provided jobs at Disney accepted them. However, this can be a stalking horse bid, so one other firm may come ahead with a better supply.

The submitting says that regardless of its “giant and engaged person base,” Character.AI has been hobbled by excessive prices and “potential litigation-related liabilities and regulatory engagement.” (The firm was sued by the mother of a 14-year-old boy who mentioned her son turned obsessive about one among Character.AI’s chatbots earlier than committing suicide; it additionally faces government investigations over child safety concerns.)