Amazon’s Billion Dollar Investment in AI Company Anthropic Sparks Hope for FTX Creditors

In a recent turn of events, creditors of FTX may have glimpsed a ray of hope through the recent collaboration between Anthropic and Amazon. The tech giant revealed plans to inject a staggering $4 billion into the burgeoning artificial intelligence (AI) startup. With the AI landscape booming, Anthropic, a formidable rival of OpenAI, had already secured a substantial $580 million in Series B funding in April 2022. Spearheaded by FTX’s leader, Sam Bankman-Fried, the fundraising effort also garnered significant contributions from Caroline Ellison, Jim McClave, Nishad Singh, Jaan Tallinn, and the Center for Emerging Risk Research (CERR).

Amidst FTX’s financial challenges, its stake in Anthropic has gained prominence, especially after Anthropic’s notable $4 billion funding injection from Amazon, along with an additional $300 million from Google in February. While the exact valuation of the post-Amazon Anthropic deal remains undisclosed, the company proudly boasted a valuation nearing $5 billion in May 2023. Notably, there’s ongoing speculation that Anthropic is engaged in negotiations to secure at least another $2 billion in fresh capital.

The startup is eyeing a valuation between $20 billion to $30 billion with this influx of new funds. As Anthropic’s valuation continues to rise, a group of FTX creditors has been using social media platform X to share their insights. “Anthropic will raise funds from Google with a valuation of $20-30 billion, placing FTX’s stake at $3-4.5 billion. FTX customers now stand to be made whole,” FTX 2.0 Coalition wrote on the social media platform.

FTX may also acknowledge the substantial value of their Anthropic shares, as creditors suspended the sale of FTX’s Anthropic stocks at the end of June. FTX’s bankruptcy saga has unveiled numerous unresolved facets before it proceeds with its strategies. In addition to Anthropic shares, FTX creditors have been demanding billions in cryptocurrency assets and tens of millions in real estate assets.

Currently, debt recovery companies are exploring avenues to leverage FTX’s compensation demands after the acquisition, reportedly having obtained $250 million in compensation requests thus far. Data from Claims-market.com reveals the highest current settlement for an FTX preference risk claim is trading at $0.37, while a no preference risk FTX claim is priced at $0.41.

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