The recent $2 billion financial backing that generative AI firm Anthropic received from tech giant Google has invigorated hopes for creditors of the now-dissolved exchange, FTX. This monumental development follows the “FTX 2.0 Coalition”’s earlier assertions about how Anthropic’s prosperity, due to its connection with FTX, could augment their recoveries.
Artificial intelligence, in 2023, is undeniably an industry on the ascent. A significant portion of investments, amounting to billions, is being directed toward pioneering companies like Anthropic and Openai. These AI forerunners have made notable advancements with their creations, namely the AI chatbots “Claude” and “Chatgpt”.
Previously, in September, Amazon exhibited its bullish stance on Anthropic by allocating a whopping $4 billion to bolster the firm. Prior to Amazon’s endorsement, Google had already showcased its confidence in the AI venture with $300 million in funding. It’s pivotal to note that Sam Bankman-Fried (SBF), the erstwhile CEO of FTX, alongside his top-tier management, had championed a massive $500 million capital infusion into Anthropic even before these tech giants.
In an intriguing turn of events on October 4, the “FTX 2.0 Coalition” posited a perspective: SBF’s hefty investment in Anthropic could essentially lead to full restitution for the exchange’s clients. This narrative gained traction shortly after Amazon’s considerable financial commitment to Anthropic.
Fast forward to October 27, the coalition received a significant morale boost. Google confirmed its commitment to support Anthropic with an additional $2 billion. Although the company’s precise valuation post this investment remains under wraps, early projections hover between a striking $20 billion and $30 billion.
Citing the Wall Street Journal’s report on Google’s recent investment, the FTX 2.0 Coalition shared the news on social media. In parallel, the sale of Anthropic’s stake by the FTX estate has been put on hold, ushering in a slew of legal complications.
Prosecutors from the U.S., who have arraigned SBF on fraud charges, contend that despite potential financial relief for the customers via the Anthropic stake, it should in no way overshadow the allegations against SBF. They had even sought to sideline the Anthropic investment during the initial trial deliberations.
Adding to the intrigue, the web page that originally highlighted SBF’s pivotal role in the Series B funding round, along with mentions of other notable participants, now redirects to a ‘404 error’. Yet, a preserved version of this content can still be retrieved from the archival website, Wayback Machine, as of April 29, 2022.