Bankrupt crypto exchange FTX will sell two-thirds of its stake in artificial intelligence (AI) startup Anthropic for $884 million, according to a Bloomberg report. The move comes as FTX seeks to repay its creditors and bolster its cash reserves.
The sale involves various buyers, including ATIC Third International Investment Company LLC, associated with the United Arab Emirates (UAE) sovereign wealth fund Mubadala, Jane Street, Fidelity Management and Research, and venture capital firm HOF Capital.
FTX Approved To Sell Ownership
In 2021, FTX invested $500 million in Anthropic, a year before facing bankruptcy amidst allegations of fraud. Anthropic, known for its AI research work, attracted significant investments from tech giants Amazon and Alphabet Inc.’s Google in 2023, valuing the startup at up to $6 billion.
The FTX bankruptcy estate currently owns an 8% stake in Anthropic, making it one of the estate’s most valuable assets. As of last month, the estate’s cash re
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