Chess.com reportedly sells for $1.4 billion thanks to AI-generated fame

Chess.com is reportedly changing hands, and a new company will buy the service for a cool $1.4 billion, according to a report by Bloomberg. What was once known as a digital service for enthusiasts to play chess is now the go-to destination to play against AI-generated players.<br><br>The company has been around since 2005, but its popularity skyrocketed in 2023 after the launch of the preview AI model. The new service added the ability to play chess against AI-generated players like Emma Pepito, Hannibal Moks, and others. These characters were then added to the service's mobile app, allowing users to access these games on other devices.Chess.com’s valuation has reportedly grown to $3.5 billion by the end of 2023. However, the company is being sold at a price below its current valuation. The company has grown to 60 million monthly active users and 500,000 paid subscribers. It is currently owned by Chess.com Inc, which is a parent company of DAZN Group, the streaming sports company that owns the majority of the chess company's shares. Bloomberg states that the acquiring company is a consortium of investors led by SoftBank Group.