The bankruptcy court approved the FTX estate’s request to sell its 8% stake in Anthropic, an AI startup, following a hearing in front of Judge John Dorsey. This decision could potentially result in over $1.4 billion for the bankrupt exchange. It is unclear exactly how much the company is worth, as The New York Times reported a valuation of $15 billion, not the $18 billion previously reported. Despite the discrepancy, the investment is expected to bring in over $1 billion, making it a profitable venture for FTX and increasing the bankrupt exchange’s cash reserves. In 2021, ex-CEO Sam Bankman-Fried made an initial investment of around $500 million in the start-up. FTX is seeking to sell its $1.4 billion stake in Anthropic. Earlier this month, FTX filed a motion to sell off their stake. The debtors claimed that being able to sell “either all or parts of Anthropic Shares at various times and through different methods will assist the Debtors in earning money from their investment.” In their last submission, the debtors mentioned they planned to sell shares at the most advantageous moments following the AI company’s fundraising activities. During a hearing earlier this year, attorneys representing the estate stated that creditors would ultimately receive full payment. However, the estate also stated that they had abandoned plans to reboot the exchange because they could not find a buyer. No investor is willing to provide the required capital to reopen the offshore exchange.