MOVIES(18h ago)
Netflix shelled out $587 million cash for Ben Affleck's AI startup
Netflix's shopping spree just got a lot more expensive. According to a federal filing reported by Variety, the streamer paid a whopping $587 million in cash to acquire Ben Affleck's AI startup, InterPositive.
The purchase, completed in March, was confirmed in Netflix's recent Form 10-Q report to the Securities and Exchange Commission. The document shows the company forked over the cash for the total purchase price.
This hefty investment shows Netflix is serious about diving deeper into artificial intelligence tech, and they're willing to pay big bucks for it. No word yet on exactly how Affleck's company will be integrated into the streaming giant's plans.
Sources:Variety ↗
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