- Google is considering a massive $2 billion investment in OpenAI competitor, Anthropic.
- FTX, having previously invested $500 million in Anthropic, stands to see significant returns on its investment.
Anthropic Attracts Tech Giant’s Gaze
Anthropic, an innovative brainchild of former OpenAI experts like Ilya Sutskever, Dario Amodei, and Daniela Amodei, is making waves in the tech industry. Having been founded in 2021, the company is now on Google’s radar, as reports emerge of potential investment talks. The tech behemoth is considering a noteworthy $2 billion infusion into the firm, a move that could drastically reshape the artificial intelligence landscape.
This prospective investment isn’t just significant for Anthropic, which is in the midst of negotiations to raise $2 billion in its upcoming funding round. If secured, this deal would elevate the company’s valuation to an impressive range of $20 to $30 billion. Anthropic’s main pursuit?
Crafting AI systems that proficiently decode complex data – from natural language to images – while being congruent with human values and goals. Their vision has already attracted significant investments from the likes of Amazon.com Inc., with a committed aid of up to $4 billion, as well as influential figures such as Reid Hoffman, Peter Thiel, Dustin Moskovitz, and Sam Altman.
FTX’s Road to Recovery through Anthropic
For FTX, a renowned cryptocurrency exchange, the anticipated rise of Anthropic could be the beacon of hope it sorely needs. The exchange confronted severe financial strains in November 2020, facing bankruptcy after a major cyberattack wreaked havoc on its operations. A revelation from a Bloomberg-acquired internal document showed FTX’s and its associate hedge fund, Alameda Research, had previously channeled $500 million into Anthropic.
This investment, at the time of FTX’s bankruptcy, stood on shaky grounds, given the halt in Anthropic’s share sales. However, the imminent surge in Anthropic’s valuation, should the funding be secured, paints a promising picture for FTX’s potential returns.
To contextualize, FTX initially grappled with a $9 billion deficit during its bankruptcy. Fortunately, diligent recovery efforts saw a retrieval of around $7 billion in liquid assets, leaving about $2 billion to be recouped. Thus, the uplift in Anthropic’s financial stature, driven by major investments, could be the pivotal moment for FTX’s stakeholders and creditors.
