Bankrupt FTX To Offload AI Startup Anthropic Shares To Abu Dhabi Investment Firm And Other Investors In $884M Deal

FTX, a bankrupt cryptocurrency exchange, will sell a significant portion of its 8% holding in the artificial intelligence startup Anthropic.

What Happened: Official court filings on Friday, revealed that the FTX has finalized a deal with institutional investors to sell 67% of its total 8% share in Anthropic, raising $884 million.

The primary buyer, acquiring 16.66 million shares for $500 million, is the ATIC Third International Investment Company, a tech investment firm wholly owned by the government of Abu Dhabi’s sovereign wealth fund, Mubadala.

Other buyers include Jane Street Global Trading, certain funds associated with Fidelity Investments, and The Ford Foundation.

Also Read: Bankman-Fried’s Defense Team Argues DOJ For ‘Super-Villain’ Portrayal, Seeks Lenient Sentence

With FTX dealing with its fallout and striving to reimburse customers, Benzinga’s Future of Digital Assets conference, scheduled for Nov. 19, will bring industry leaders and investors together to discuss the future of digital asset investments.

Why It Matters: The Anthropic stake is the most valuable asset of the FTX portfolio. FTX and Alameda Ventures acquired the stake in 2021 for $500 million, and its value has surged significantly amidst the AI industry boom.

The previous attempt to sell the shares in June 2023 was thwarted by stalled due diligence.

While its existing cash pile stood at $6.4 billion in February, FTX creditors are likely to be repaid everything they're owed, company officials have said as reported by Bloomberg.

While the FTX cryptocurrency exchange faced collapse last year, there are numerous other reputable cryptocurrency exchanges available.

Join industry titans like Tim Draper and Jan Van Eck at Benzinga’s Future of Digital Assets conference on Nov. 19.

Read Next: FTX Aims Repay Customers, ‘FTX 2.0’ Off The Table: ‘The Objective Is Within Reach’ (UPDATED)

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