FTX to sell majority of stake in Anthropic for $884m

The estate of bankrupt crypto exchange FTX is offloading about two-thirds of its 8% stake in artificial intelligence startup Anthropic in a series of sales worth $884 million.

Third International Investment Company LLC, a unit associated with the sovereign wealth fund Mubadala in the United Arab Emirates, will buy close to $500 million of FTX’s shares in the business, according to a court filing Friday. Jane Street, certain funds managed by Fidelity Management and Research and venture capital firm HOF Capital will also purchase shares, according to an agreement with FTX, dated March 22, along with 20 other buyers.

creditors are likely to be repaid everything they’re owed, company officials have said. Anthropic secured up to $4 billion in investment from Amazon.com Inc and up to $2 billion from Alphabet’s Google last year, as valuations attached to artificial intelligence businesses skyrocketed. © 2024 Bloomberg

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