The $1 billion or so in proceeds from the sale of the shares will be used to pay back investors.
- There is a queue of buyers for FTX’s 8% ownership in the AI startup Anthropic, according to a recent CNBC report.
- The shares were bought for $500 million in 2021, but at the current valuation, they are valued at $1 billion.
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According to a new CNBC story citing unidentified sources, FTX’s portion of the artificial intelligence company Anthropic is for sale, and international investors, including sovereign wealth funds, are lining up to buy the shares.
The report states that the sale is anticipated to conclude in the coming weeks, and the money raised will be utilized to reimburse FTX investors.
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Attorneys for FTX stated in January that the now-defunct exchange hopes to reimburse consumers for 100% of the value of their holdings at the time of the bankruptcy. Disgraced founder and former CEO Sam Bankman-Fried has tried to take advantage of this fact to support his request for a sentence that is far less than the 40–50 years that federal prosecutors have recommended.
For $500 million in 2021, FTX and Alameda jointly bought an 8% share in Open-AI rival Anthropic. According to reports, the current market value of those shares is $1 billion. There are no voting rights attached to the class B shares.
In February, a New York bankruptcy court granted the FTX estate permission to sell the shares. Following months of stalled due diligence, an earlier attempt to sell the shares in June 2023 ultimately failed.
CNBC’s report indicates that Anthropic is excluding any investments from Saudi Arabia due to national security worries, yet remains open to funding from other sovereign wealth funds, such as the United Arab Emirates’ Mubadala.
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