FTX sells majority of its stake in Anthropic, raising $884 million from institutional investors.
FTX sells two-thirds of its Anthropic stake, purchased for $500 million in 2021, and retains the rest for now.
FTX confirms commitment to fully reimburse customers, but many creditors complain about the value of assets considered at the time of bankruptcy.
The bankruptcy of FTX has reached a decisive turning point with the announcement of the sale of a majority of its stake in the artificial intelligence startup Anthropic to around twenty institutional investors, generating $884 million. The sale is part of the company’s efforts to fully reimburse customers of the fallen exchange.
According to court documents filed on Friday, ATIC Third International Investment Company, a technology investment company owned by the Abu Dhabi sovereign wealth fund, Mubadala, is the main buyer. ATIC has agreed to purchase 16,664,167 shares of Anthropic for $500 million.
Other buyers include Jane Street Global Trading, an entity associated with Sam Bankman-Fried’s former employer, Fidelity Investments, and the Ford Foundation.
The announcement of this sale immediately led to a 10% increase in the value of FTX’s FTT token, a positive sign for investors and an indicator of regained confidence in the assets of the bankrupt exchange.
This sale differs significantly from previous asset sales by FTX, often described as fire sales, such as the sale of LedgerX last year for $50 million, well below the $298 million invested in 2021.
In January, the FTX bankruptcy administration pledged to fully reimburse affected customers, a ambitious bet in the tumultuous context. The initial acquisition of Anthropic stake in 2021 for $500 million, followed by the surge in the value of these shares due to the enthusiasm for artificial intelligence and ChatGPT, allowed FTX to more than double its initial investment, despite a failed first sale attempt in June 2023.
