Disney agrees to hire the majority of Character AI’s workforce

Key points

• Disney has agreed to offer jobs to at least 60 employees of chatbot startup Character.AI, which filed for bankruptcy earlier this week. A legal filing reported by Bloomberg says the offers would cover most of the workforce, with an estimated $60 million in annual pay.
• The filing says the vast majority of those offered positions have accepted them. The deal is a stalking horse bid, meaning another company could still make a higher offer.
• Character.AI has been affected by high costs and potential litigation and regulatory issues, according to the filing.