Netflix Pays $587 Million for Ben Affleck's AI Startup InterPositive

Netflix has acquired Ben Affleck's artificial intelligence startup, InterPositive, for $587 million in cash, according to a filing with the Securities and Exchange Commission (SEC). The disclosure was made in the streamer's Form 10-Q, detailing business combinations, with the acquisition occurring in March.

Although the SEC document does not explicitly name InterPositive, the deal was announced on March 5. The financial information was also included in Netflix's first-quarter filing, completed in May. An insider had previously told Bloomberg that Affleck and his investors could receive up to $600 million if the company met certain performance targets.

Affleck founded the Los Angeles-based InterPositive in 2022 with a team of 16 engineers, researchers, and creatives. He described the company's AI tool as designed to address specific challenges faced by filmmakers and enhance the filmmaking process.

"It's not about text prompting or generating something from nothing. You're building a model from your own material," Affleck explained in a video released by Netflix earlier this year. "You have to create your movie, essentially, first before you can really build your model around your movie using AI."

Affleck stated that the technology aims to simplify the logistical and technical aspects of filmmaking. Potential applications include removing wires from stunts, re-framing shots, correcting missed shots, adjusting lighting, and enhancing backgrounds. He believes this can lead to more efficient production and increased creative opportunities.

He emphasized that the company's objective is to "preserve what makes storytelling human" and expressed confidence in Netflix's commitment to using technology responsibly. Affleck has a history with Netflix, having starred in and produced the crime thriller "The Rip" earlier in 2024.