Disney (DIS) has sent a cease-and-desist letter to Bytedance, claiming that the Chinese tech firm has been infringing on its IP to train and develop an AI video generation model Seedance 2.0 without proper compensation, Axios’ Sara Fischer reports, citing a copy of the letter. The move marks the most serious action a major U.S. media giant has taken so far against ByteDance, the author notes.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DIS: