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FTX Agrees to Sell Majority of Anthropic Shares for $884m
Bankrupt crypto exchange FTX has agreed to sell the majority of its shares in AI startup Anthropic for $884 million, according to court filings from Friday.
Details of the Sale
- FTX is selling the majority of its shares in Anthropic for $884 million.
- ATIC Third International Investment Co., owned by Abu Dhabi’s sovereign wealth fund Mubadala, is acquiring the largest portion.
- ATIC is set to acquire 16,664,167 shares of Anthropic from FTX for nearly $500 million.
- Jane Street Global Trading, where FTX founder Sam Bankman-Fried previously worked, is the second largest buyer.
- Other investors include funds managed by Fidelity Management and The Ford Foundation.
FTX’s Anthropic Stake Sale Process
Reports suggest that several sovereign wealth funds were interested in acquiring a share of FTX’s Anthropic stake. Saudi Arabia was reportedly excluded due to national security concerns. The kingdom has been investing in tech funds to attract talent and diversify its economy.
FTX’s Investment in Anthropic
In 2021, FTX and Alameda invested $500 million in Anthropic, holding a 7.84% stake. The value of these shares doubled amid the surge in the artificial intelligence sector, driven by innovations like ChatGPT.
Approval Process and Future Outlook
The deal is pending final approval from Judge John Dorsey, overseeing FTX’s bankruptcy proceedings. If approved, it would represent a significant portion of FTX’s shares in Anthropic.
Anthropic has received substantial funding from tech giants like Amazon, Alphabet, and Salesforce, totaling around $7 billion.
For FTX, the sale of Anthropic shares signifies a major success following commitments to reimburse customers after the exchange’s collapse.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
