FTX Halts Sale Of $500 Million Stake In Anthropic AI Startup: Report

Key Points:

• FTX has stopped the sale of its stake in Anthropic, a highly sought-after AI startup valued at $4.6 billion.
• Multiple potential buyers have shown interest in the stake over the past few months, requiring NDA agreements to access private information.

FTX has halted the sale of its stake in AI startup Anthropic. The stake, valued at $4.6 billion, was sought after by buyers in the secondary market. FTX’s bankruptcy filing revealed a $500 million investment in Anthropic, representing a significant bet for the exchange.

At the heart of the AI boom, Anthropic, a startup founded by former OpenAI employees, has become one of the most sought-after companies in the field. The startup recently raised $450 million to support the development of its AI bot, dubbed Claude, and is now valued at an impressive $4.6 billion, according to Semafor’s June report.

As a result, buyers in the secondary market for shares in private companies have been actively seeking opportunities to acquire stakes in Anthropic, including at a premium. This trend did not go unnoticed by Sam Bankman-Fried’s FTX and Alameda, who made a $500 million investment in the startup, according to an internal document circulated before last November’s bankruptcy filing and reviewed by Bloomberg News.

However, the now-bankrupt crypto exchange has halted the sale of its Anthropic stake, which represents one of the biggest bets made by FTX, behind its $1.5 billion investment in crypto miner Genesis Digital. Boutique investment bank Perella Weinberg Partners, an adviser to FTX, informed bidders about the pause, according to people familiar with the matter who asked not to be named discussing confidential information.

The halt came after several months, when multiple potential buyers assessed private information about the Anthropic stake. Perella had asked potential bidders to sign non-disclosure agreements before accessing private information about the target’s finances, which is standard practice in the industry.

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