Google invests $300 million in an AI business previously backed by Sam Bankman-Fried

by Feb 5, 2023CryptoNews0 comments

Anthropic, an artificial intelligence (AI) startup company, received about $500 million in funding from Sam Bankman-Fried, the former CEO of FTX, roughly six months before FTX tragically failed. According to reports, Google Cloud has invested $300 million in Anthropic.

Financial Times published the $300 million amount on February 4, however, Anthropic acknowledged the investment collaboration with Google Cloud the same day without providing any numbers:

In the same statement, Anthropic also affirmed that their Series B financing round included contributions from Bankman-Fried and Caroline Ellison, a former CEO of Alameda Research, among others:

The Series B round was led by Sam Bankman-Fried, CEO of FTX. The round also included participation from Caroline Ellison, Jim McClave, Nishad Singh, Jaan Tallinn, and the Center for Emerging Risk Research (CERR).”

According to Crunchbase, Bankman-fundraising Fried’s activities took place in April 2022.

According to a recent article by The New York Times, out of the $580 million collected, around $530 million was contributed by Bankman-Fried and his former business partners. However, other people think the number might be more significant.

Bankman-ownership Fried’s share in the AI business, according to one FTX creditor, may be worth up to $1.1 billion. But the creditor gave no further explanation of the sum.

Other members of the Crypto Twitter community are also speculating whether Bankman-investment Fried’s will be utilized to settle the enormous debt FTX has accrued as a result of their previous scandals. In terms of the collaboration, Anthropic will now use the GPU and TPU clusters on Google Cloud to train, extend, and deploy “Claude,” a ChatGTP-like AI chatbox.

See also  San Francisco Federal Bank is interested in developing a CBDC system

According to the Financial Times, Google Cloud received around a 10% interest in Anthropic.

Bankman-Fried personally entered a not-guilty plea to all eight fraud and conspiracy-related accusations brought against him on January 3. It is yet unknown where most of the FTX bankruptcy case debt will come from. Bankman-Fried is still under house arrest at his parents’ California home.

Recent News

Recent Posts


Submit a Comment

Your email address will not be published. Required fields are marked *

Related Post

Grayscale Files Official Application for New Ether Futures ETF

Grayscale Files Official Application for New Ether Futures ETF

Digital currency investment firm Grayscale has formally submitted an application to the Securities and Exchange Commission (SEC) for the creation of a new Ether (ETH) futures exchange-traded fund (ETF). The proposal outlines the intention to list and trade shares of...