Character.ai files for Chapter 11 bankruptcy, puts itself up for court-supervised sale
zeeg · x · 2026-10-14
Character.ai announced it has initiated a voluntary Chapter 11 bankruptcy to facilitate a court-supervised sale, citing significant legal, regulatory, and operational headwinds over the past year. The board concluded the sale process offers the best chance to maximize stakeholder value; if no actionable bid emerges, the platform will be wound down. Soumith Chintala-style commentary from industry figures called it a sign of what's to come.
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