FTX announced deals worth US$884 million to sell a significant portion of its shares in artificial intelligence startup Anthropic. (Anthropic). The startup, backed by tech giants such as Amazon and Google, represents a large part of FTX's portfolio of assets intended to repay its creditors.
$884 million deal for FTX
According to For legal filing Going to the U.S. Bankruptcy Court in Wilmington, Delaware, the bulk of that investment. For around $500 million, it will be acquired by Attic International Investment III. It is a subsidiary of the UAE Sovereign Fund Mubadala.
The rest of the shares are distributed among several major players in the financial and technology sectors. These companies include Jane Street Global Trading and entities related to Fidelity Investments.
Additionally, the decision to sell nearly two-thirds of Anthropic's shares could have a significant impact on FTX's efforts to repay its creditors. While the company acquired a 7.8% stake in the artificial intelligence startup with an investment of $500 million in 2021. It paid off. FTX Strategic Investment At Anthropic Inc. significantly. In this regard, She says FTX Company:
“Due to the growing interest in artificial intelligence and large language models, the value of Anthropic shares has increased significantly.”
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Anthropic is at the forefront of AI research and development. It has attracted significant interest and investment from Amazon and Google. With Amazon committing up to $4 billion and Google committing up to $2 billion recently, Anthropic's valuation has increased.
This sale therefore reflects FTX's commitment to...Recovery plan Which aims to pay customers' contributions in full. With cash reserves of $6.4 billion at the end of February, up from more than $5 billion at the start of last year, FTX is currently conducting its bankruptcy proceedings with a focus on asset liquidity and repayment creditors.
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