Artificial intelligence startup Anthropic has raised $3.5 billion in its latest funding round, pushing its valuation to $61.5 billion. The round was led by Lightspeed Venture Partners, with backing from Bessemer Venture Partners, Cisco Investments, D1 Capital Partners, Fidelity Management & Research Company, General Catalyst, Jane Street, and Salesforce Ventures.
Anthropic’s Rapid Growth
Founded in 2021 by former OpenAI employees, Anthropic has quickly become a dominant force in the AI industry. The company’s Claude AI models, including the recently launched Claude 3.7 Sonnet, have positioned it as a key competitor in the space. The newly raised capital will be used to advance AI research, boost computational capabilities, and expand internationally, with a particular focus on Asia and Europe.
FTX’s Costly Missed Opportunity
A notable aspect of Anthropic’s financial rise involves its early ties to the now-bankrupt cryptocurrency exchange FTX. In 2021, FTX invested $500 million in Anthropic, acquiring roughly 8% of the company. However, following FTX’s collapse in 2022, the exchange’s estate began liquidating assets to repay creditors.
In March 2024, FTX sold two-thirds of its Anthropic stake for $884 million to a group of investors, including Abu Dhabi’s sovereign wealth fund. Later, in June 2024, the remaining 15 million shares were sold at $30 per share, generating over $450 million. Altogether, these sales brought in approximately $1.3 billion, significantly contributing to FTX’s creditor repayment efforts.
What Could Have Been
Had FTX retained its full stake, the original $500 million investment would now be valued at a staggering $5 billion based on Anthropic’s latest valuation. The massive unrealized gains highlight the impact of FTX’s forced asset sales due to its bankruptcy.
FTX’s liquidation of Anthropic shares helped alleviate creditor losses but also underscored the financial consequences of its collapse. The AI firm’s soaring valuation makes it one of the most valuable investments tied to FTX’s troubled legacy.
