What’s left of Toronto-based artificial intelligence (AI) chipmaker Untether AI has filed for bankruptcy.

Untether shut down earlier this year and entered into an acquihire agreement with Advanced Micro Devices (AMD), a key rival to both Intel and Nvidia, sending over its software and AI hardware engineering employees. The fate of its assets and intellectual property remained unclear at the time. On Oct. 14, Untether filed a notice of bankruptcy to creditors and appointed PricewaterhouseCoopers as its trustee.

Untether has nearly $25 million in assets and just over $128 million in liabilities.

The bankruptcy documents cite a “lack of working capital/funding” as the reason for Untether’s financial difficulties. The Globe and Mail reported earlier this year that Nvidia’s dominance of the

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