Hedge fund manager Travis Kling believes Google’s recent $2 billion investment commitment in artificial intelligence (AI) firm Anthropic will help to push FTX’s bankruptcy to full recovery.
On October 27, reports emerged that technological giant Google had committed to a $2 billion investment in Anthropic. This includes an initial $500 million investment, with plans to infuse the remaining $1.5 billion over time.
FTX Bankruptcy Nears Full Recovery
In a post on X (formerly Twitter), the founder of Ikigai Asset Management, Travis Kling, suggested that Google’s investment in the AI company would help FTX’s bankruptcy near full recovery. He said:
“FTX bankruptcy getting pretty close to a full recovery at this point. It’ll take years to pay out, but estate assets vs customer deposits prob about 1:1 now.”
However, the founder of BlockTower Capital, Ari Paul, countered that Google’s investment does not mean Anthropic will return cash. Paul said:
“Anthropic may or may not ever return cash, but could be similar mistake to thinking FTX was solvent because of SRM and FTT holdings. Imo, about half the recovery a giant question mark of paper marks, most not even real ‘valuation rounds.’”
Last year, FTX and its affiliate, Alameda Research, made a substantial $500 million investment in Anthropic.
Since then, the AI company has made remarkable strides by creating Claude2, a competing chatbot to OpenAI’s ChatGPT, and has also secured nearly $7 billion in funding during the past year.
As a result, Anthropic’s valuation is poised to surpass the $4.1 billion mark reported earlier this year to more than $20 billion. The increased valuation could drastically push FTX’s stake in the company to more tha
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Author: Oluwapelumi Adejumo
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