From www.accountingtoday.com: Builder.ai, an AI startup backed by Microsoft and the Qatar Investment Authority, has lowered its revenue estimates for the second half of 2024 by approximately 25% after concerns arose about inflated sales figures.

The company has hired auditors to examine its financial accounts from the past two years in light of allegations from former employees regarding discrepancies in sales reporting.

Following the revelation, Builder.ai’s founder stepped down as CEO, and the company is reorganizing its leadership while addressing potential governance improvements.