This Microsoft-backed London startup made 700 engineers in India pose as AI

Builder.ai Files for Bankruptcy

Builder.ai, previously valued at $1.5 billion, has filed for bankruptcy due to accusations of misleading investors regarding its AI capabilities. The company, which received backing from Microsoft and Qatar’s sovereign wealth fund, reportedly employed Indian engineers to manually code applications while falsely promoting them as AI-generated. This deception resulted in financial misrepresentations, heightened regulatory scrutiny, and ultimately, the company’s collapse.

Full Article