Summary: British AI start-up Builder.ai, backed by Microsoft and the Qatar Investment Authority, is filing for bankruptcy after a major creditor seized most of its cash. The company, which operates in five jurisdictions, will file for bankruptcy in each region. This marks a significant fall from grace for Builder.ai, which achieved “unicorn” status in 2023 with a valuation of over US$1 billion.

Link: https://www.straitstimes.com/business/companies-markets/once-worth-over-1-3-billion-ai-start-up-builder-ai-filing-for-bankruptcy