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FTX share: AI startup Anthropic excludes investments from Saudi Arabia
This article reports that AI startup Anthropic will not accept investments from Saudi Arabia as part of FTX's bankruptcy proceedings. The decision is based on safety concerns. Instead, it is being considered that the United Arab Emirates' sovereign wealth fund, Mubadala, could invest in Anthropic. The article also addresses Saudi Arabia's efforts to invest in the technology industry and potential national security concerns related to dual-use technologies.
FTX share: AI startup Anthropic excludes investments from Saudi Arabia
AI start-up Anthropic will not accept investments from Saudi Arabia as part of the sale of 8% of its shares as part of FTX's bankruptcy proceedings. Fact-based information shows that Anthropic made this decision due to safety concerns. Anthropic management has ruled out Saudi Arabia as an investor, citing geopolitical factors and national security concerns. It is reported that FTX acquired an 8% stake for $500 million three years ago. The value of the stake has increased to over $1 billion due to increased interest in AI technologies. Proceeds from the share sale will be used to repay FTX customers and is expected to be completed within the next few weeks. The non-voting Class B shares being sold will trade based on Anthropic's most recent valuation of $18.4 billion. Anthropic has raised about $7 billion in recent years from tech giants like Amazon, Alphabet and Salesforce. Anthropic's advanced language model directly competes with OpenAI's ChatGPT. Founders Dario and Daniela Amodei reserve the right to reject potential investors, but are not currently involved in the fundraising process or negotiations for the FTX stake. The Amodei siblings were introduced to Bankman-Fried through the concept of “effective altruism,” which aims to maximize wealth for charitable purposes.
A table with relevant information might be helpful here.