FTX Sells Anthropic Shares for $450M Amid $700M Bankruptcy Costs, Gains $1.3B

Jun 2, 2024, 04:57 AM

FTX, the bankrupt cryptocurrency exchange, has sold its remaining 15 million shares in the artificial intelligence startup Anthropic for $30 per share, netting over $450 million. Initially, FTX invested $500 million in Anthropic, and the sale has led to a total gain of $1.3 billion. The sale comes as the costs associated with FTX's bankruptcy have surpassed $700 million, largely due to legal and administrative fees. The attempt to sell the shares was first made in June 2023 but was halted. The subsequent rise in the value of Anthropic shares, driven by the booming AI sector, resulted in significant profits for FTX.