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The bankruptcy estate of FTX struck deals to sell most of its stake in AI startup Anthropic for $884 million, according to a court filing.

Why it matters: The Anthropic stake sale moves FTX one step closer to exiting bankruptcy and paying back customers.

The latest: Two dozen investors have agreed to buy nearly 30 million shares of Anthropic from FTX, which amounts to about two-thirds of its 7.8% stake in the company.

ATIC Third International Investment, which is affiliated with U.A.E. sovereign wealth fund Mubadala, is buying a $500 million stake.

Other investors include Jane Street, certain funds managed by Fidelity Investments, and HOF Capital.

Yes, but: The sale still needs court approval to be finalized.

Catch up quick: Former CEO Sam Bankman-Fried invested $500 million into Anthropic in October 2021.

FTX paused a previous attempt to sell the stake last summer, and Google invested in the AI company three months later.

Last month, the court approved plans to sell the shares after the bankruptcy estate reached a deal with customers who opposed the sale.

The big picture: Prior to the sale, the FTX estate had amassed $6.4 billion in cash, and it expects to repay all customers in full by the end of the bankruptcy process.

What's next: Bankman-Fried will be sentenced in New York City's federal court Thursday after being convicted of defrauding customers and investors.

FTX agrees to sell most of its Anthropic stake for $884M

The deal brings FTX closer to full repayment of its customers.

Illustration of a hundred dollar bill in the shape of the FTX logo 

Fintech

The bankruptcy estate of FTX struck deals to sell most of its stake in AI startup Anthropic for $884 million, according to a <a class="gtmContentClick" data-vars-link-text="court filing" data-vars-click-url="https://restructuring.ra.kroll.com/FTX/ExternalCall-DownloadPDF?id1=MzA4OTczNA==&amp;id2=0&amp;cid=0" data-vars-content-id="d6995994-4f2d-4d6e-8f63-ac07bc18da16" data-vars-headline="FTX agrees to sell most of its Anthropic stake for $884M" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://restructuring.ra.kroll.com/FTX/ExternalCall-DownloadPDF?id1=MzA4OTczNA==&amp;id2=0&amp;cid=0" target="_blank">court filing</a>.Why it matters: The Anthropic stake sale moves FTX one step closer to exiting bankruptcy and paying back customers.

FTX agrees to sell most of its Anthropic stake for $884M

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