Bankers Seek Buyers for FTX's 8% Stake in AI Startup Anthropic

New York, March 22, 2024 - Investment banks are reportedly fielding interest from potential buyers for FTX's 8% stake in AI startup Anthropic. The sale proceeds, estimated at $1 billion, will be used to repay FTX investors.

According to CNBC, global investors, including sovereign wealth funds, are lining up for the opportunity to acquire the shares. The sale is expected to conclude within the next few weeks.

FTX and its trading arm, Alameda Research, jointly purchased the stake in Anthropic for $500 million in 2021. The shares are currently valued at approximately $1 billion.

The FTX estate received court approval in February to sell the shares. A previous attempt to sell them in June 2023 failed due to stalled due diligence.

CNBC reports that Anthropic has excluded Saudi Arabia from consideration as an investor due to national security concerns. However, the company has not ruled out investments from other sovereign wealth funds, such as the United Arab Emirates' Mubadala.