Snap spins off AI video team into new company, Dotmo, due to costs (opens original article in a new tab)

Snap is spinning off its AI video team into a new company, Dotmo, to focus on interactive gaming experiences, citing high internal costs. The new company will retain ties to Snapchat and receive a technology license, while Snap will hold an equity stake.

• Snap is spinning off its AI video team into a new company called Dotmo.
• Dotmo will focus on AI models for interactive gaming experiences and retain ties to Snapchat.
• Snap will receive an equity stake in Dotmo while the new company may seek outside funding.