Sam Bankman-Fried is set to miss out on an almost $40 billion fortune as artificial intelligence company Anthropic prepares to make its Nasdaq debut next week.
Through his private crypto trading firm’s investment arm, Alameda Research Ventures, the ex-billionaire poured $500 million into Anthropic in 2021—securing nearly 14% of the AI lab while it was still valued at around $4 billion. However, the former FTX executive had to forfeit his huge stake in the company in 2024.
At the moment, Anthropic is preparing for one of the biggest stock market debuts ever, expected to open at roughly $83 per share, for a total valuation of $1.5 trillion. If Alameda still held its stake, those shares would be worth around $37 billion—one of the largest payouts from a single venture investment of all time.Â
SBF’s Anthropic stake sold for over $1.3 billion
The Anthropic investment was part of a broader series of deals Bankman-Fried made in 2021 and 2022. However, when his FTX business collapsed into bankruptcy amid the 2022 crypto market crash, his holdings, including the Anthropic stake, were sold to repay creditors.Â
The FTX bankruptcy estate sold the Anthropic holdings for roughly $1.34 billion. The first phase of the sale in March and April raised roughly $884 million, while the second phase in June brought in approximately $452 million.
Cumulatively, 38 buyers acquired the stake at roughly $30 per share. The biggest chunk of the sale, priced at $500 million, went to ATIC Third International Investment, a firm connected to Abu Dhabi’s Mubadala. Â
Overall, the share sale generated more than $800 million in gains for SBF. But with the upcoming IPO, those holdings would have been worth 74 times their original purchase price as soon as next week. Â
Bankman-Fried’s loss of the Anthropic investment also comes against the backdrop of his criminal conviction following FTX’s spectacular collapse. In March 2024, a US federal court sentenced the former crypto executive to 25 years in prison after a jury found him guilty on seven counts of fraud and conspiracy.
Prosecutors established that he had misappropriated billions of dollars in FTX customer deposits and diverted them to Alameda Research, which used the funds to make investments, repay loans, and finance other expenses. The court also ordered him to forfeit $11 billion as part of his sentence, with recovered funds intended to compensate victims of the fraud.
Unfortunately, the forced fire sale didn’t stop at Anthropic. Alameda’s $200,000 early-2022 bet on Anysphere—the company behind AI coding tool Cursor—was liquidated at cost during the 2023 bankruptcy.
Meanwhile, his nearly 8% stake in Robinhood, bought in 2022 for over $500 million, was repurchased by the trading app for $606 million in 2023. Those shares would be valued at roughly $4.5 billion today.Â
In the past, Bankman-Fried has expressed regret over the bankruptcy filing, insisting that he could have returned customers’ money in full if he was given enough time to realize investments and raise additional cash.Â
Anthropic will start trading on November 19
Anthropic is set to hit the Nasdaq around November 19 under the ticker ANT. According to its updated S-1 filing, shares will price between $70 and $78, giving the AI giant a fully diluted valuation of roughly $1.5 trillion at the top of the range. The firm was initially projected to list at up to $2 trillion, but the recent shakeup in the AI space has knocked a big chunk off that projected valuation.Â
Even so, Anthropic’s filing remains the next big test for AI stocks and could set the benchmark for rival OpenAI’s own IPO, expected early next year.
Anthropic’s proposed valuation reflects the rapid expansion of its AI business and growing demand for its Claude models. According to its latest IPO filing, the company generated $16.96 billion in revenue during the third quarter of 2026, bringing its total revenue for the first nine months to $33.24 billion.
Its enterprise customer base has also expanded rapidly, with businesses generating at least $100,000 in annual revenue on a trailing 12-month basis increasing to more than 11,900 by September 30, compared with more than 950 a year earlier.
But that expansion has come with substantial infrastructure costs. Anthropic reported a $567 million operating loss in the third quarter, compared with $974 million in operating income in Q2.
It also disclosed approximately $900.9 billion in aggregate commitments for computing and infrastructure purchases and lease agreements. These are future financial obligations, rather than money already spent, with approximately $451.6 billion expected to be incurred before the end of 2030.
The firm’s public listing also coincides with a $26 billion placement to institutional investors, including Google and Nvidia. The move follows a May 2026 funding round that valued the company at $965 billion. The 10-for-1 stock split increased the position to roughly 445.4 million shares, representing about 2.5% of Anthropic’s fully diluted share count. Based on the stock’s eventual pricing and market performance, the stake could be worth between $30 billion and $45 billion.Â
If you’re reading this, you’re already ahead. Stay there with our newsletter.
Â
This articles is written by : Nermeen Nabil Khear Abdelmalak
All rights reserved to : USAGOLDMIES . www.usagoldmines.com
You can Enjoy surfing our website categories and read more content in many fields you may like .
Why USAGoldMines ?
USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.