Snap spins off AI video team into new company, Dotmo, due to costs
Snap will be spinning off an internal generative AI video team into a separate company. The new company — dubbed Dotmo — will focus on developing AI models that can create interactive gaming experiences, Snap told TechCrunch.
Snap cited the high costs of conducting such work internally as one of the reasons for the spinoff.
While technically a separate company, Dotmo will retain its close ties to the Snapchat creator. For one thing, Snap will provide Dotmo with a license to adapt its technology for gaming and interactive entertainment platforms. At the same time, the initial Dotmo team will consist of a group of current Snap staff who are leaving Snap to launch the new venture.
Additionally, while Dotmo won’t be funded by Snap directly, the company says that Bobby Murphy, its chief technology officer, will act as lead investor and will have a significant personal stake in the new...
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