Netflix to Acquire Ben Affleck's AI Firm for Up to $600 Million
Netflix agreed to pay up to $600 million to acquire AI moviemaking firm InterPositive, founded by Ben Affleck, aiming to leverage generative technology. Wells Fargo resumed coverage on Netflix with an equal-weight rating and $105 price target, suggesting about 12% upside ahead of its April 16 first-quarter results webcast.
1. Acquisition of InterPositive
Netflix agreed to pay up to $600 million to acquire InterPositive, the AI moviemaking startup founded by Ben Affleck. The deal aims to integrate generative AI into Netflix’s production pipeline to accelerate content creation and enhance viewer personalization.
2. Wells Fargo Resumes Coverage
Wells Fargo analysts resumed coverage on Netflix with an equal-weight rating and set a $105 price target, implying roughly 12% upside. The brokerage noted Netflix may refocus on content expansion and capital allocation following its pursuit of streaming assets.
3. First Quarter 2026 Earnings Schedule
Netflix will release its first-quarter 2026 financial results and business outlook on April 16 at 1:01 p.m. PT, followed by a 1:45 p.m. PT live video interview with co-CEOs and finance leadership. The webcast will be accessible on the Netflix Investor Relations YouTube channel with a recording available at approximately 2:30 p.m. PT.