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Presto, a supplier of AI voice software for chains such as Carl’s Jr. and Taco John’s, is facing a potential lender takeover and delisting from Nasdaq. Lender Metropolitan Partners has given Presto multiple extensions on its repayment obligations and offered a refinancing deal involving selling debt and converting the balance to equity.
Despite efforts to find a buyer for the debt, Presto has received no interest from investors, making a takeover by Metropolitan Partners likely. The company is also in discussions with Nasdaq regarding its status and faces challenges due to a shift in its business model from tabletop ordering tablets to voice AI for drive-thrus.
Insider Monkey on MSN.com 11month
Isomorphic Labs, the AI drug discovery platform that was spun out of Google's DeepMind in 2021, has raised external capital for the first time. The $600
How to level up your teaching with AI. Discover how to use clones and GPTs in your classroom—personalized AI teaching is the future.
Trump's Third Term? AI already knows how this can be done. A study shows how OpenAI, Grok, DeepSeek & Google outline ways to dismantle U.S. democracy.
Sam Altman today revealed that OpenAI will release an open weight artificial intelligence model in the coming months. "We are excited to release a powerful new open-weight language model with reasoning in the coming months," Altman wrote on X.
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