- Anthropic has rejected investment from Saudi Arabia, citing national security concerns.
- The sale proceeds will be channeled toward repaying FTX’s customers.
FTX’s stake in the artificial Intelligence startup Anthropic is attracting attention from sovereign wealth funds and other investors. However, the lucrative business has ruled out firms from Saudi Arabia, citing national security concerns, despite the kingdom’s keen interest in the AI sector.
Sources close to the matter told CNBC that Anthropic’s executives have firmly rejected the idea of accepting Saudi investment due to concerns about national security implications. This decision, although significant, aligns with a broader trend of caution surrounding investments in companies dealing with sensitive technologies.
The stake in Anthropic, which is currently up for sale, originated from FTX, the collapsed cryptocurrency exchange founded by Sam Bankman-Fried. Following FTX’s bankruptcy proceedings, the 8% stake in Anthropic, acquired for $500 million three years ago, has grown in value to over $1 billion due to the recent surge in AI valuations. The proceeds from this sale are earmarked to repay FTX customers.
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FTX’s Stake Sale
In recent years, Anthropic has raised approximately $7 billion from industry giants like Amazon, Alphabet, and Salesforce. This influx of capital has fueled the development of its cutting-edge language model, positioning it as a formidable competitor to OpenAI’s ChatGPT. However, Anthropic’s founders, Dario and Daniela Amodei, retain significant influence over the company’s investment decisions.
While Anthropic’s stance against Saudi investment is firm, it remains open to funding from other sovereign wealth funds, including the United Arab Emirates’ Mubadala. Anthropic’s strategic move reflects broader tensions between technology innovation and national security interests, a delicate balance that companies in the AI sector are navigating.
