FTX to Offload $884 Million Anthropic Stake to Abu Dhabi Firm and Other Investors

FTX to Offload $884 Million Anthropic Stake to Abu Dhabi Firm and Other Investors

FTX, a leading cryptocurrency exchange, is set to sell two-thirds of its shares in Anthropic for $884 million, with the majority being acquired by Abu Dhabi-based investors.

According to recent court documents filed at the U.S. Bankruptcy Court for the District of Delaware, ATIC Third International Investment Company LLC, associated with the United Arab Emirates sovereign wealth fund Mubadala, is poised to acquire nearly $500 million worth of FTX’s interest in Anthropic. This significant transaction underscores the growing interest of Middle Eastern investors in the cryptocurrency and technology sectors.

Additionally, a diverse group of investors, including Jane Street, various Fidelity Management and Research-managed funds, and venture capital entity HOF Capital, among others, have agreed to purchase stakes in Anthropic.

FTX’s initial investment of $500 million in AI startup Anthropic in 2021 faced a setback the following year due to fraud charges, leading to bankruptcy. However, Anthropic’s value has since surged, driven by advancements in generative AI technology and the potential for the firm to rival industry leader OpenAI.

The sale of FTX’s stake in Anthropic is expected to provide a significant boost to the exchange’s cash reserves, which were reported to be approximately $6.4 billion previously. FTX officials remain optimistic that the proceeds from the sale will enable creditors to fully recover their dues.

While there were reports of interest from buyers based in Saudi Arabia, Anthropic executives revealed that Saudi investments were not pursued due to national security concerns.

The sale of FTX’s stake in Anthropic reflects the continued interest of institutional investors in emerging technologies and the cryptocurrency space, highlighting the growing convergence between traditional finance and the digital asset ecosystem.

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