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AI Startup Builder.ai Crashes: Microsoft-Backed Company Files for Bankruptcy Amid Frozen Funds
4 week ago /
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Author：小编
The UK-based AI startup Builder.ai has filed for bankruptcy in the United States following the seizure of its bank accounts by creditors. Reports indicate that the company had exaggerated its projected sales for 2024 by a staggering 300% and engaged in falsified business transactions with VerSe Innovation. Builder.ai, which once boasted a valuation of $1.5 billion and had raised over $450 million in funding, has now become the highest-profile AI firm to collapse in the wake of the ChatGPT boom, underscoring the significant risks associated with AI investments. Notably, in February of this year, the company's founder, Sachin Dev Duggal, stepped down from his role as CEO.
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