Former FTX Anthropic Stake Could Reach $35 Billion

According to CryptoNews, bankrupt cryptocurrency exchange FTX’s former investment in artificial intelligence company Anthropic could now be valued at more than $30 billion under the artificial intelligence firm's proposed initial public offering price range.

FTX and its affiliated trading firm Alameda Research originally invested $500 million in Anthropic in 2021, securing an initial 13.56% ownership interest. Following subsequent financing rounds and the exchange's collapse in November 2022, the bankruptcy estate managed the holding before US Bankruptcy Judge John Dorsey authorized its sale in February 2024 to repay creditors.

Share Sales and Valuation

The bankruptcy estate executed the sale in two batches during 2024. The first transaction closed in April 2024 for approximately 29.47 million shares totaling $884.1 million, followed by a second sale in June covering roughly 15 million shares for $452 million. In total, the estate generated approximately $1.34 billion from the transactions, selling the shares at nearly $30 each.

Anthropic’s November 10 filing with the US Securities and Exchange Commission set an estimated IPO price range of $70 to $78 per share. Following a 10-for-1 stock split on September 17, 2026, the 44.54 million shares previously sold by FTX correspond to roughly 445.4 million shares. At the proposed $70 to $78 per share range, that holding would be valued between $31.18 billion and $34.74 billion.

Private Placement and Buyers

Institutional investors, investment funds, and private buyers acquired the shares during the 2024 bankruptcy sales. ATIC Third International Investment Company, associated with Abu Dhabi’s Mubadala, purchased the largest block of approximately 16.66 million shares for nearly $500 million. Other buyers included Jane Street Global Trading, Fidelity Management & Research Company funds, HOF Capital, and G Squared.

Alongside the public offering on the Nasdaq Global Select Market under the ticker ANT, Anthropic plans a $26 billion private placement involving major technology companies including Google, Microsoft, Nvidia, AMD, Broadcom, Micron, and TSMC Partners.

Key facts

• FTX sold its entire Anthropic investment for approximately $1.34 billion across two sales in 2024.
• Anthropic's proposed IPO price range of $70 to $78 per share implies a valuation of approximately $31.2 billion to $34.7 billion for the former FTX stake.
• FTX originally invested $500 million in Anthropic in 2021.
• Buyers of the bankruptcy sales included Mubadala-linked ATIC, Jane Street, Fidelity, HOF Capital, and G Squared.