Startup fraud: Microsoft-backed startup made engineers sitting in India pose as AII

Builder.ai, once valued at $1.5 billion, has filed for bankruptcy after being exposed for misleading investors about its AI capabilities. The company, backed by Microsoft and Qatar's sovereign wealth fund, allegedly used Indian engineers to manually code apps while marketing them as AI-generated. This deception led to financial misrepresentations, regulatory scrutiny, and ultimately, the company's downfall.

from Times of India https://ift.tt/nld4ehI