A $1.5B AI unicorn just collapsed, and there was no AI.
Builder.ai raised nearly half a billion dollars from Microsoft, SoftBank, and QIA by claiming it used AI to build apps. Turns out, it was just outsourced devs manually writing code.
The company faked the tech, inflated revenue, and somehow kept the illusion going for 8 years. Now they’ve laid off 100% of staff and entered insolvency.
One of the biggest AI scams yet and a brutal reminder to look behind the curtain.