FTX sells majority stake in Anthropic for $884m, with the largest buyer being a UAE fund
Bankrupt crypto exchange FTX has struck a deal to sell a majority stake in artificial intelligence startup Anthropic to a consortium of buyers for $884 million.
Here's What We Know
According to documents, the largest buyer is ATIC Third International Investment Co, a company linked to the United Arab Emirates sovereign wealth fund Mubadala. It is buying Anthropic shares for about $500 million.
The second-largest deal was a $100 million stock purchase by quant trading firm Jane Street, where FTX founder Sam Bankman-Fried previously worked. Jane Street's head of research Craig Falls also personally bought $20 million worth of shares.
The list of nearly two dozen buyers also included venture capital fund HOF Capital, the Ford Foundation, funds managed by Fidelity Management and other investors.
It was previously reported that a Saudi sovereign fund had been ruled out as a potential buyer of FTX's stake in Anthropic on national security grounds.
The share sale deal still needs approval from the judge in FTX's bankruptcy case. If it closes, the buyers will receive nearly two-thirds of the cryptocurrency exchange's previously owned Anthropic shares.
Flashback
FTX is a cryptocurrency exchange founded in 2019. In November 2022, the company filed for bankruptcy after a series of financial problems and allegations of unethical management of customer funds.
Anthropic was one of the affected parties in the FTX collapse, as the exchange owned shares in the AI startup.
In November, FTX exclave Bunkman-Fried was found guilty of seven criminal counts related to the FTX bankruptcy. Sentencing is scheduled for 28 March, and prosecutors are recommending a sentence of 40 to 50 years.
Go Deeper:
Source: CNBC
