Netflix allocates more than $500 million for Ben Affleck's company

Streaming company Netflix has paid more than $500 million in cash for Ben Affleck's mysterious AI startup - InterPositive.

Back in March, less than a week after dropping out of the bidding for Warner Bros. Discovery, Netflix acquired an AI company founded by actor Ben Affleck.

Bloomberg, an American company specializing in financial information, business news and market analysis, estimated the transaction value at around $600 million at the time.

Although Netflix did not comment on the report, the price was officially announced in a document filed with the US Securities and Exchange Commission, which stated that Netflix paid $587 million in cash for InterPositive.

According to The Hollywood Reporter, this information was published in the company's quarterly report.

Affleck is the sole founder of InterPositive, which states on its website that it "merges art and technology to create bold visual stories that connect people."

"I knew I had a responsibility to my colleagues and the entire industry to protect the power of human creativity and the people behind it. By founding InterPositive, I wanted to achieve exactly that," Affleck wrote in an announcement announcing the company's founding.

"From the invention of the moving image to the transition to digital, from motion capture to virtual production, technology has evolved alongside the artists who use it. Our shared commitment to continuing that tradition makes this partnership a natural next step, with Netflix's decades of experience in the responsible application and development of technology," the actor added.

According to Variety, Netflix CEO Ted Sarandos said during a earnings call that around 300 productions are currently using artificial intelligence at some stage of the process, mostly in post-production.