Builder.ai Files for Bankruptcy After Creditors Seize Accounts

Builder.ai filed for bankruptcy in the US after creditors seized most of the cash in the British startup’s bank accounts.

The company published a list of creditors in a chapter 7 case in a Delaware bankruptcy court, Builder.ai said in a filing dated June 2.

Read More: Builder.ai Faked Deals With VerSe to Inflate Sales, Sources Say

The company had overstated its projected 2024 sales by 300%, contributing to creditors’ decision to seize the funds, Bloomberg reported in May. Builder.ai, once valued at about $1.5 billion, is the largest AI company to collapse since ChatGPT’s launch started a global investment ...