The estate of bankrupt cryptocurrency exchange FTX has secured a deal to sell the majority of its stake in artificial intelligence (AI) startup Anthropic for $884 million, according to a court filing submitted on Friday in Delaware.
The filing details a diverse group of buyers for the Anthropic stake, with the largest portion, nearly $500 million, set to be acquired by ATIC Third International Investment Co., an entity linked to Mubadala, the sovereign wealth fund of Abu Dhabi in the United Arab Emirates.
Reports suggest that Saudi Arabia, another major player in the region, was initially interested in the Anthropic stake but was excluded due to potential national security concerns.
Jane Street, the quantitative trading firm where FTX founder Sam Bankman-Fried previously worked, was the second-biggest buyer in the deal. The firm, along with its head of quantitative research Craig Falls, who is purchasing shares personally, will acquire nearly $120 million worth of Anthropic stock.
Other buyers include venture capital firm HOF Capital, the Ford Foundation, and investment funds managed by Fidelity Management.
The sale, encompassing roughly two-thirds of FTX’s stake in Anthropic, still requires approval from Judge John Dorsey, who is presiding over the crypto exchange’s bankruptcy proceedings.
FTX, under Bankman-Fried’s leadership, invested $500 million in Anthropic before the boom in generative artificial intelligence. In December 2023, the company was valued at $18 billion, with FTX having a stake of roughly 8%.
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- Source: https://www.cryptocompare.com/email-updates/daily/2024/mar/26/
