FTX estate selling majority stake in AI startup Anthropic for $884 million, with bulk going to UAE

FTX reached an agreement to sell the majority of its stake in artificial intelligence startup Anthropic for $884 million.Additional investors include Jane Street and funds managed by Fidelity.Pavlo Gonchar | SOPA Images | Lightrocket | Getty Images

Bankrupt crypto exchange FTX has struck a deal with a consortium of buyers to sell the majority of its stake in artificial intelligence startupThe document, dated March 22, lists a mix of buyers, with the largest stake going to ATIC Third International Investment Company, an enterprise aligned with Mubadala, a sovereign wealth fund in the United Arab Emirates. That group is purchasing nearly $500 million worth of Anthropic shares.

The second-biggest buyer in the Anthropic transaction is Jane Street, the quantitative trading firm where FTX founder Sam Bankman-Fried worked before venturing out on his own. Caroline Ellison, the ex-CEO of FTX's sister hedge fund Alameda Research, also previously worked at Jane Street. The firm is purchasing shares worth almost $100 million.Venture fund HOF Capital, The Ford Foundation and funds managed by Fidelity Management are others on the list of nearly two-dozen buyers.

The sales are not yet final and must be cleared by Judge John Dorsey, who is overseeing FTX's bankruptcy case in Delaware. Should it be approved, the sale would collectively account for In November, Bankman-Fried was convicted of seven criminal counts tied to the collapse of FTX. His sentencing is scheduled for Thursday, and prosecutors areUnder Bankman-Fried's leadership, FTX invested $500 million in Anthropic, which was founded by ex-OpenAI employees in 2021, before the generative AI boom.

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