AI startup Anthropic is selling 8% stake to UAE fund, avoiding Saudi buyers

From The Block:

1. Anthropic, an AI startup, is seeking a buyer for the 8% stake currently owned by FTX, valued at over $1 billion. The company has ruled out selling to investors from Saudi Arabia due to national security concerns. FTX is selling the shares as part of bankruptcy proceedings.

2. UAE fund Mubadala is interested in purchasing Anthropic shares, along with other sovereign wealth funds. Anthropic was valued at $18.4 billion in December. A judge has approved FTX’s plan to sell its stake in the AI startup, with the transaction expected to wrap up in the next couple of weeks.

3. FTX originally bought shares in Anthropic for $500 million three years ago. The funds raised from the sale of the stake will be used to reimburse clients who lost money after the cryptocurrency exchange went bankrupt. Anthropic is currently in the process of lining up new investors for the company.



Read more at The Block: OpenAI rival Anthropic selling FTX stake, but Saudi buyers left out of consideration: report