FTX, a cryptocurrency trading platform that faced a setback in 2022, is now in the process of recovering its business. They have announced reaching an agreement to sell assets in Anthropic, a leading AI startup known for its prominent product, Claude chatbot, valued at $884 million. FTX did not sell all of the shares but rather around 2 out of the 3 invested by the company.
The investment in Anthropic came about when Sam Bankman-Fried, the founder of FTX, who was also the CEO at the time, invested a total of $500 million in 2021. Back then, Anthropic was just starting out, founded by former employees of OpenAI and did not yet have the traction of Generative AI as seen today. The latest valuation of Anthropic stands at around $18 billion, making the 8% stake FTX invested worth approximately $1.4 billion.
The buyers of this stake in Anthropic are a group of investors, with the majority owned by ATIC Third, an investment company from the United Arab Emirates, and the second largest owned by Jane Street, an investment firm where Sam Bankman-Fried previously worked before founding FTX. Additionally, there are over 20 other investment companies involved in this deal.
Source: CNBC
TLDR: FTX is in the process of recovering by selling assets in Anthropic, an AI startup known for its chatbot Claude. The investment made by Sam Bankman-Fried in Anthropic is valued at $500 million, with the latest valuation of Anthropic reaching $18 billion. Multiple investors, including ATIC Third and Jane Street, are part of this deal.
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