In their initial report, the liquidators – Stephanie Jeffreys and Adele Hicks (both of Grant Thornton) say the release of OpenAI’s ChatGPT “froze” Ambit’s business.
Warren said many customers now thought, correctly or not, that they could get equivalent products for free or cheaper – the same phenomenon that led to the collapse earlier this year of much larger New Zealand-founded customer service chatbot firm Soul Machines, owing $19.6m.
Ambit AI stopped trading in May 2024.
Its intellectual property (IP) was disposed of in two transactions.
Warren said he was frustrated that he and other shareholders had seen no money for either.
Chairman Mark Bregman told Tech Insider he gave a chunk of IP to a group of staff – in lieu of…