Anthropic, one of the largest artificial intelligence (AI) companies in the market, has released the latest iteration of its in-house large language model (LLM) Claude, identified as 3.5 Sonnet. Anthropic claims this new assistant competes with Openai’s GPT-4o, surpassing the latter in several benchmarks including Graduate Level Reasoning, Grade School Math, Multilingual Math, and Code. […]
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FTX Estate to Monetize AI Investment, Seeks Sale of Anthropic Shares Amid Bankruptcy Proceedings
In a significant move within the crypto bankruptcy landscape, FTX Trading Ltd. has announced its intention to sell its equity interests in the artificial intelligence (AI) firm, Anthropic PBC. Holding close to an 8% stake, valued between approximately .47 billion to upwards of .4 billion, FTX is navigating its Chapter 11 bankruptcy with this strategic asset liquidation. This sale marks a pivotal step in FTX’s efforts to maximize returns for creditors from its high-value, illiquid assets.
FTX Aims to Sell Close to 8% Stake in the AI-Giant Anthropic
FTX and its affiliates, amidst their ongoing Chapter 11 bankruptcy proceedings, have motioned for court approval to sell their shares in Anthropic PBC. The motion outlines a structured sale process, aimed at divesting the shares free of any encumbrances. FTX’s stake, acquired through a significant investment round, represents a notable share in Anthropic, reflecting the depth of FTX’s entanglement in high-tech ventures prior to its financial upheaval.
The backdrop of FTX’s investment in Anthropic traces back to a series of financial maneuvers, culminating in a substantial equity position through a 0 million investment. This move was emblematic of FTX’s broader strategy to diversify its portfolio across cutting-edge technologies, demonstrating the former crypto exchange’s ambitious reach beyond its core operations. The decision to liquidate its stake in Anthropic comes as FTX seeks to navigate its complex bankruptcy situation, striving to unlock value from its illiquid assets for customer compensation.
The proposed sale, as detailed in the court filing, underscores the significance of Anthropic’s valuation in the AI sector, pegged between .4 billion to billion. FTX’s stake, approximately 7.84%, is positioned as a high-value asset within its bankruptcy estate. This liquidation strategy is reflective of the growing interest and perceived value in AI technologies, where Anthropic has emerged as a key player. The sale process aims to leverage this momentum, offering a rare opportunity for stakeholders to engage with one of the AI industry’s most promising ventures.
As the bankruptcy court scrutinizes FTX’s proposal, the suggested divestiture of Anthropic shares marks a pivotal moment in the bankruptcy proceedings. This development follows creditors expressing dissatisfaction that their digital currency payouts will reflect the valuations from November 2022. For example, a bitcoin (BTC) in FTX’s possession would be appraised at ,871 each, despite its present value of .9K. In response, four clients lodged a grievance, appealing to the judiciary for equitable resolution and asserting that the assets are the rightful property of the clients, not the exchange.
What do you think about FTX planning to sell it’s Anthropic shares? Share your thoughts and opinions about this subject in the comments section below.
A Shot at Full Recovery? Amazon’s Billions to Anthropic Ignite Hopes for FTX Creditors
FTX creditors might see a silver lining following the recent partnership between Anthropic and Amazon, as the tech behemoth unveiled plans to pour up to billion into the budding artificial intelligence (AI) startup. Over on the social media haven X, a cadre of FTX creditors, united under the banner of “FTX 2.0 Coalition,” explained how FTX’s vested stake in Anthropic could pave the way to compensating customers and making them whole.
FTX Creditors Eye Payday as Amazon Pumps Billions into AI Startup Anthropic
On the cusp of the artificial intelligence (AI) boom, Anthropic, a rival to Openai, garnered a substantial 0 million in a Series B funding round in April 2022. Spearheaded by FTX chieftain Sam Bankman-Fried, the fundraising endeavor also saw notable contributions from Caroline Ellison, Jim McClave, Nishad Singh, Jaan Tallinn, and the Center for Emerging Risk Research (CERR).
Amid FTX’s financial debacle, its share in Anthropic has been thrust into the limelight, more so following Anthropic’s remarkable funding infusion of up to billion from Amazon and an extra 0 million from Google the preceding February. While a fresh valuation of Anthropic post-Amazon deal remains under wraps, the enterprise boasted a near billion worth in May 2023. Notably, buzz surrounds Anthropic as it reportedly engages in dialogues to amass at least billion in fresh capital.
The startup is eyeing a valuation ranging from billion to billion, buoyed by this new capital influx. As Anthropic’s valuation escalates, a faction of FTX creditors took to the social media realm X to share their insights. “Anthropic to raise from Google at -30B valuation, putting FTX’s stake at -4.5B. FTX customers now stand to be made whole,” the FTX 2.0 Coalition wrote on the social media platform.
The FTX estate too, likely acknowledges its Anthropic share is worth a pretty penny, and at the end of June, the debtors stalled the sale of FTX’s Anthropic share. The saga of FTX’s bankruptcy unfolds with myriad facets yet to be resolved before marching ahead with its strategies. Beyond the Anthropic stake, FTX debtors have reclaimed billions in crypto assets alongside tens of millions in real estate assets.
Currently, debt recovery titans keen on capitalizing post-acquiring FTX claims have reportedly snagged 0 million in claims thus far. Data from claims-market.com reveals the current peak payout for an FTX claim bearing some preference risk is trading at .37 on the dollar, while no preference risk FTX claims are fetching .41 on the dollar.
What do you think about the creditors who have higher hopes after Anthropic raised billions from Amazon? Share your thoughts and opinions about this subject in the comments section below.
Amazon to Invest up to $4 Billion in AI Firm Anthropic
Amazon, the worldwide tech behemoth, has announced that it will invest up to billion in Anthropic, an artificial intelligence (AI) firm that has developed Claude, a generative AI assistant. As part of this strategic partnership, Anthropic will train its models on top of Amazon silicon, and Anthropic will make its models available through Amazon Bedrock.
Amazon to Pour up to Billion Into AI Model Company Anthropic
Amazon, one of the leading tech companies in the world, has announced a strategic partnership with artificial intelligence (AI) firm Anthropic that includes an investment of up to billion in exchange for a minority stake in the company.
According to a press release issued by Amazon, Anthropic will now use Amazon Web Services (AWS) as its primary cloud services provider. Anthropic will also use Amazon-produced silicon, including its Trainium and Inferentia chips, to “build, train, and deploy its future foundation models, benefitting from the price, performance, scale, and security of AWS.”
Anthropic has positioned as a rival for Openai since earlier this year when it debuted Claude, an AI assistant with capabilities that contend with Chatgpt, one of the most popular AI chatbots in the market. Recently, it announced Claude Pro, a paid subscription model directed to heavy users of Claude.
In May, the company took advantage of the AI buzz in the market, raising 0 million in a series C funding round led by Spark Capital with participation from Google, Salesforce Ventures, Sound Ventures, Zoom Ventures, and others, to grow its product offering and support businesses using Claude based solutions.
More Details
Anthropic, founded by former Openai employees, announced that organizations will be able to harness Claude by using Amazon Bedrock, a cloud service that allows customers to access AI models. Amazon AWS customers will use Claude to “incorporate generative AI capabilities into their work, enhance existing applications, and create net-new customer experiences across Amazon’s businesses.”
Amazon will ease the deployment of these models via Bedrock, letting customers worry about fine-tuning Claude’s capabilities for their specific needs.
Dario Amodei, co-founder and CEO of Anthropic, stated:
Since announcing our support of Amazon Bedrock in April, Claude has seen significant organic adoption from AWS customers. By significantly expanding our partnership, we can unlock new possibilities for organizations of all sizes, as they deploy Anthropic’s safe, state-of-the-art AI systems together with AWS’s leading cloud technology.
What do you think about Amazon’s investment in Anthropic? Tell us in the comments section below.
FTX Pauses Sale of $500 Million Stake in AI Startup Anthropic
Failed crypto exchange FTX has unexpectedly halted the sale of its stake in the artificial intelligence (AI) startup Anthropic. The stock has been viewed as a source of funds that can be used to compensate customers who suffered losses as a result of the coin trading platform’s collapse.
Cryptocurrency Exchange FTX Postpones Sale of Anthropic Shares
Bankrupt crypto exchange FTX has decided to hold off the sale of its stake in the AI company Anthropic. The stock, worth 0 million, has been among the exchange’s most sought-after assets, Bloomberg noted in a report.
According to sources who chose to remain anonymous, bidders have been informed this month about the pause by Perella Weinberg Partners, the financial services firm acting as an advisor in FTX’s bankruptcy which was looking to sell the Anthropic shares.
The AI startup was established in 2021 by former employees of Openai, the developer of the chatbot Chatgpt. In May of this year, Anthropic announced it had raised 0 million to support the development of its AI bot named ‘Claude.’
Anthropic has been recently valued at .6 billion and secondary market buyers have been seeking to acquire shares of the company. FTX’s stake in the AI firm is one of the biggest investments made by what was one the largest digital asset exchanges.
FTX filed for bankruptcy protection amid liquidity issues in November 2022. The sale of the Anthropic stake was halted a day after FTX’s new CEO, John J Ray III, accused the former management of the crypto company of misappropriating assets, Forbes remarked in an article.
Some of the political donations and venture capital investments made by FTX and Sam Bankman-Fried (SBF), its founder and former chief executive, have been partially funded by commingled customer deposits, according to a report published by the exchange’s new management this week.
FTX and SBF’s crypto trading firm Alameda Research made the 0 million investment in Anthropic, according to the internal documents seen by Bloomberg. At this point, it remains unclear how long the sale of the stake in the AI startup will be delayed.
Do you think FTX will sell its stake in Anthropic in the near future? Share your expectations in the comments section below.
Google Backs AI Firm Anthropic With $300 Million, Following Series B Investment From Controversial FTX Co-Founder
As the artificial intelligence (AI) wars intensify, the AI firm Anthropic has raised 0 million from Google and sources say that the tech giant will get roughly a 10% stake in the AI company. Interestingly, in April 2022, Anthropic raised approximately 0 million from sources including Sam Bankman-Fried (SBF), co-founder of FTX; Caroline Ellison, former CEO of Alameda; Nishad Singh, former director of engineering at FTX; and several others.
AI Company Backed by Sam Bankman-Fried Raises 0 Million in Capital From Google
Following the launch of Chatgpt and Microsoft’s investment in Openai, the artificial intelligence (AI) competition has intensified. Anthropic, an AI safety and research company, has raised 0 million from Google. According to The Financial Times (FT), three sources familiar with the deal reported that Google will receive a 10% stake in Anthropic. The sources stated that the capital will be used to fund computing resources, according to the FT report.
Anthropic also provided information about the subject on the company’s website. The AI firm’s announcement page states that it has chosen Google Cloud as its preferred cloud provider. “The partnership is designed for the companies to collaborate in developing AI computing systems,” the announcement says. “Anthropic will utilize Google Cloud’s advanced GPU and TPU clusters to train, expand, and implement its AI systems.” Like Chatgpt, Anthropic is an AI firm that is developing an AI assistant called “Claude,” which aims to utilize steerable AI techniques and safety enhancements.
The same announcement page, below the Google announcement, reveals that the firm raised capital from Sam Bankman-Fried, the former co-founder of FTX. “The Series B round was led by Sam Bankman-Fried, CEO of FTX. The round also included participation from Caroline Ellison, Jim McClave, Nishad Singh, Jaan Tallinn, and the Center for Emerging Risk Research (CERR),” the Anthropic announcement made in April 2022 explains.
Reports suggest that of the 0 million raised, Bankman-Fried and his associates contributed at least 0 million to Anthropic. The crypto community has been discussing Bankman-Fried’s investment in the AI firm. A Twitter account called Autism Capital tweeted: “Google has just invested 0M in Sam Bankman-Fried backed by stolen user money Anthropic AI.” The account also stated, “Sam, FTX, and notable Effective Altruism figures such as Jaan Tallinn led the Anthropic Series B for 0M.”
FTX creditor Sunil K estimates that Bankman-Fried’s stake could be worth “0 million to .1 billion.” An individual asked Sunil K what he believed might happen with the stake and he replied, “Will have to sell the stake and clawback the money.” A Twitter user asked a similar question to Autism Capital, “Serious question: Is there a chance the Bankman-Fried money gets clawed back from Anthropic?” Moreover, it’s also been reported that some of Anthropic’s researchers previously worked for Openai.
Last month, the news start-up Semafor, a firm that was criticized by Elon Musk for being backed by the disgraced FTX co-founder, SBF, said it would buyback SBF’s stake in the company. “We are planning to repurchase Sam Bankman-Fried’s interest in Semafor and to place the money into a separate account until the relevant legal authorities provide guidance as to where the money should be returned,” Semafor’s co-founder and chief executive Justin Smith told the New York Times.
What are your thoughts on the recent investment by Google into the Sam Bankman-Fried-backed Anthropic AI? Let us know your thoughts about this subject in the comments section below.