Anthropic, the AI nugget that sets FTX and its creditors on fire

FTX invested in time 500 million dollars in Anthropica AI startup now valued 30 billion following the acquisition ofAmazon. These actions very in demand give hope to the jackpot at creditors of thecrypto exchange.

The bankrupt cryptocurrency exchange and its former executives have invested heavily, and not just in the Web3 industry. FTX and its sister company Alameda Research had also identified Anthropic’s potential.

Anthropic is one of the most promising startups in the booming field ofgenerative artificial intelligence. FTX and its founders hold a $500 million stake in the AI nugget. Since then, its valuation has soared. And that’s thanks to Amazon.

FTX’s winning bet, but the difficult resale

FTX’s investment in Anthropic predates the company’s bankruptcy last November, according to an internal document. Bloomberg. The generative AI market was just emerging, driven by OpenAI’s ChatGPT craze.

2023 is undoubtedly the year of AI Gen, and startups in the sector are highly coveted by investors. Anthropic is one such player. And its valuation has just skyrocketed.

Last week, Amazon paid $4 billion for shares in this OpenAI competitor and its Claude model. The e-commerce giant is arming itself against competition from other Gafams.

Anthropic also counts Google among its shareholders. At the beginning of the year, the Californian firm spent $300 million to acquire 10% of the startup, whose capitalization (fictitious at this stage) is estimated at 30 billion dollars.

Anthropic share sale cancelled this summer

With 500 million invested, FTX could be sitting on a pile of gold. At least, that’s what some of its shareholders are hoping. creditors. On X, some of them, united under the name FTX 2.0 Coalition, founded on these Anthropic shares.

And according to information from PitchBookSam Bankman-Fried, Caroline Ellison and Nishad Singh, three former executives now on trial, also own shares in Anthropic.

These shares could be confiscated to bail out FTX. But should they sell their stake in such a promising start-up? This summer, those in charge of restructuring the crypto exchange cancelled the sale of Anthropic shares on the secondary market.

What about FTX executives’ personal purchases?

An IPO could prove more lucrative, even if such a prospect is not imminent (nor indeed certain). The fate of Anthropic’s shares is not yet sealed, and creditors can’t be sure of pocketing the loot. Or at least to be reimbursed for their initial losses.

Moreover, according to Bloomberglegal uncertainty surrounds the investments made by FTX’s directors. The authorities accuse them of diverting the company’s funds to venture capital operations for their own benefit.

Former Alameda director Caroline Ellison is accused of taking a $22.5 million bonus, of which $10 million was spent on investing in Anthropic. The courts could therefore deprive her of this capital.

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