Character.ai files for Chapter 11 as Disney makes a $20 million opening bid
Character.ai began a court-supervised sale and says its chatbot service will keep operating during the process. Disney has offered $20 million for a nonexclusive license to certain intellectual property and claims, subject to higher offers; The Verge examined the bankruptcy filing and the company's legal and operational pressures.
ThereforeCharacter.ai says the service will shut if the sale fails to find a buyer willing to keep it running.