techcrunch.com
Snap spins off AI video team into new company, Dotmo, due to costs
Snap is spinning off its internal generative AI video team into a new company called Dotmo, citing high costs of conducting such work internally. Dotmo will focus on developing AI models for interactive gaming experiences and will retain close ties to Snapchat. The initial team will consist of current Snap staff, and while Dotmo won't be directly funded by Snap, the company will receive a large equity stake in exchange for a technology license and talent. This [...]