FTX creditors hail Google's $2 billion investment in AI firm Anthropic

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FTX creditors hail Google's $2 billion investment in AI firm Anthropic

The FTX 2.0 Coalition, a group of FTX creditors, said Google's $2 billion investment in artificial intelligence firm Anthropic could help the exchange's defunct users become whole.

In an Oct. 4 post on X, the group highlighted that if Anthropic's valuation were to grow to a range of $20 billion to $30 billion, FTX's stake in the company could surge to as much as $4.5 billion. This increase will significantly supplement FTX's recovered assets, currently valued at $7.3 billion in cash and crypto.

Anthropic has emerged as one of the main rivals of OpenAI. OpenAI's startup was launched in 2021 by former scientists from OpenAI who raised $124 million in initial funding. The founders were motivated by concerns about the safety and ethics of artificial intelligence systems, he said. The AI firm is dedicated to creating artificial General Intelligence with rigourous safety measures.

On Oct. 3, the Information reported that Anthropic was looking to raise as much as $2 billion from investors, including Google, a few days after it had gotten a $1.25 billion commitment from Amazon. The company will reportedly liquidate these investments from the $4.6 billion recorded earlier in the year.

Matrixport, a crypto investment platform, said that With OpenAI's ChatGPT rival, Anthropic's valuation would push FTX's stake to $2 billion.

Matrixport also added that this, along with other possible recoveries, would be positive for FTX's users. The firm said it had found a profitable way to grow its client base, which had been facing a financial crisis.