<p>In recent weeks, a consortium of creditors associated with FTX, named the “FTX 2.0 Coalition,” highlighted how the collapsed exchange’s vested interest in Anthropic could substantially impact their compensation. Anthropic, a generative artificial intelligence (AI) company, recently secured a significant funding round of $2 billion from Google. While the updated valuation remains undisclosed, preliminary estimates suggest that the firm’s post-valuation could be in the range of $20 to $30 billion.</p>
<h2 class="wp-block-heading" id="anthropic-secures-2-billion-funding-from-google">Anthropic secures $2 billion funding from Google</h2>
<p>The year 2023 has seen remarkable growth in artificial intelligence (AI), witnessing billions of dollars in investment pouring into companies such as Anthropic and OpenAI. These <a href="https://www.wsj.com/tech/ai/google-commits-2-billion-in-funding-to-ai-startup-anthropic-db4d4c50" rel="noopener noreferrer nofollow" target="_blank">entities</a> have developed generative AI chatbots, namely “Claude” and “ChatGPT,” which have gained prominence in the AI landscape. In late September, reports indicated that Amazon committed $4 billion to support the firm. Before Amazon’s investment, Google had already injected $300 million into the AI startup.</p>
<p>It is worth noting that before these corporate giants entered the scene, former FTX CEO Sam Bankman-Fried (SBF) and some of his senior executives had infused $500 million into the firm. On October 4, the FTX 2.0 Coalition, comprised of FTX creditors, discussed the potential impact of SBF’s investment in the firm, foreseeing it as a means to fully reimburse customers and clients. This discussion emerged following Amazon’s substantial injection of $4 billion into Anthropic.</p>
<h2 class="wp-block-heading" id="legal-complexities-and-the-ramifications-of-the-ftx-saga">Legal complexities and the ramifications of the FTX saga</h2>
<p>Fast forward to October 27, when reports confirmed Google’s commitment of $2 billion to Anthropic. Although the exact post-investment valuation figures remained undisclosed, initial estimates ranged from $20 billion to $30 billion. The FTX 2.0 Coalition reposted the Wall Street Journal’s (WSJ) update on social media, revealing Google’s recent injection into Anthropic. However, amidst these developments, the FTX estate decided to delay the sale of the Anthropic investment, sparking a legal dispute.</p>
<p>In the midst of this, U.S. prosecutors, who have charged SBF with fraud, emphasized that while the Anthropic investment might potentially benefit customers, it should not diminish the legal <a href="https://www.cryptopolitan.com/sbf-bought-sol-at-0-20-using-alameda-profits/" data-type="post" data-id="394382" rel="noopener noreferrer nofollow">charges</a> against SBF. During the trial’s early stages, prosecutors sought to exclude the Anthropic investment from the trial proceedings. Furthermore, the page detailing SBF’s leadership in the Series B funding round, involving participants like Caroline Ellison, Jim McClave, Nishad Singh, Jaan Tallinn, and the Center for Emerging Risk Research (CERR), now displays a 404 error HTTP status code.</p>

Anthropic’s deal with Google brings hope to FTX creditors

Table of Contents

Cryptopolitan_News

Other articles published on Oct 29, 2023

Sam Bankman-Fried’s Ambition: The Untold FTX-Binance Acquisition Saga

Things One Needs to Know About dYdX Before Starting to Use It

Web3 Gaming Models: A Gamer’s Guide to Decentralized Gaming

Optimism (OP) Analysis: Network Growth and Price Predictions

Ubisoft Announces Release Window for Long-Awaited Pirate Game, Skull and Bones

Cryptocurrency to Run Legal in Taiwan, Proposed Crypto Bill

Join our free newsletter for daily crypto updates!