- FTX invested $500 million in Anthropic in 2021 and currently holds a 7.84% stake in the company.
- The Delaware judge has approved FTX’s proposal to sell the shares after the bankrupt exchange reached a compromise in court with a group of FTX customers that had opposed the sale.
- FTX’s 2021 investment initially gave it a 13.56% equity stake in Anthropic, but the stake has been diluted by the company’s subsequent fundraising.
- FTX filed for Chapter 11 bankruptcy protection in November. A month later, FTX founder and former CEO Sam Bankman-Fried was charged with money laundering, fraud, and conspiracy to commit wire fraud.
- In January, a federal judge overseeing the FTX bankruptcy permitted the failed exchange to sell off some of its assets to repay creditors.
- The bank handling the potential sale of the shares, Perella Weinberg, has been floating the idea to investors.
- Anthropic, launched in 2021 by former OpenAI employees, launched Claude AI in March after receiving a $400 million investment from Google earlier this year. In May, Anthropic raised another $450 million in Series C funding led by Spark Capital.
- FTX may be looking to offload its stake in OpenAI rival Anthropic, which is currently valued at over $500 million.
Read more at: https://decrypt.co