FTX to sell $884m Anthropic stake to Abu Dhabi firm, 20 other investors

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FTX is promoting two-thirds of its shares in Anthropic at $884 million, most of that are being acquired by Abu Dhabi-based buyers. 

ATIC Third Worldwide Funding Firm LLC, linked to the United Arab Emirates sovereign wealth fund Mubadala, plans to safe practically $500 million value of FTX’s curiosity in Anthropic. This transfer got here to mild by means of a latest court document filed on the U.S. Chapter Court docket for the District of Delaware. 

Moreover, Jane Avenue, varied Constancy Administration and Analysis-managed funds, and the enterprise capital entity HOF Capital, amongst 20 different entities, have agreed to accumulate stakes.

FTX to sell $884m Anthropic stake to Abu Dhabi firm, 20 other investors - 1
All potential patrons of FTX’s shares in Anthropic | Supply: U.S. Bankruptcy Court Filing

In 2021, FTX made a big funding of $500 million in AI startup Anthropic, solely to face chapter the next yr as a result of fraud prices. Since final yr, Anthropic’s worth has quickly elevated with the developments surrounding generative AI and the prospect of the agency rivaling OpenAI.

Provided that FTX’s holding in Anthropic ranks among the many most profitable belongings inside its portfolio, and with the property’s money reserves reported at roughly $6.4 billion beforehand, FTX officers are optimistic that collectors will absolutely get well their dues.

Beforehand, there have been reports of curiosity from Saudi Arabia-based patrons. Nonetheless, Anthropic executives revealed that Saudi investments had been disregarded as a result of nationwide safety issues. 

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