Anthropic Raises Fresh Funds, Boosting Valuation to $30 Billion
Artificial intelligence firm Anthropic has secured new funding from Google and other investors, potentially increasing its valuation to $30 billion. This development is seen as a positive sign for FTX creditors, as Sam Bankman-Fried, the founder of bankrupt FTX, previously invested in Anthropic.
New Funding Round and Valuation Increase
Anthropic is seeking to raise at least $2 billion in new funding after receiving a $1.25 billion investment from Amazon’s rival of OpenAI. Amazon has also committed to investing up to $4 billion in the company. Google, which already holds a 10% stake in Anthropic, may participate in the new funding round. As a result, the company’s valuation could range between $20 billion and $30 billion.
Potential Competition for Payout
Enlighten Law Group’s managing partner, Kunchou Tsai, believes that the increased funds and valuation could lead to a “100% recovery rate” for FTX assets in its bankruptcy proceedings. However, Tsai suggests implementing a lock-up period for Anthropic investors to prevent them from disposing of their holdings immediately. The timing of selling FTX’s stake in Anthropic remains uncertain.
Claims Trading and Creditor Recovery
The potential increase in Anthropic’s valuation is expected to benefit FTX creditors significantly. Thomas Braziel, partner at 117 Partners and 507 Capital, firms specializing in purchasing bankruptcy claims and distressed debt, sees this development as a positive outcome for creditors. However, Braziel cautions that these valuations are only on paper and not yet liquid.
Hot Take: Increased Valuation Brings Hope for FTX Creditors
The recent funding round and potential increase in valuation for Anthropic could lead to a higher recovery rate for FTX creditors. This news has sparked active trading of FTX bankruptcy claims in the over-the-counter market, with hedge funds showing interest. However, it is important to remember that these valuations are not yet realized, and liquidity remains a key factor.
By
By
By
By
By