Court documents from Friday reveal that the estate of bankrupt crypto exchange FTX is looking to sell its shares in artificial intelligence (AI), startup Anthropic.

In a motion to approve proposed sale procedures, the FTX estate of Sam Bankman Fried owns approximately 7.84% of Anthropic in January 2024. FTX, along with sister investment firm Alameda, invested $500 million into Anthropic in the year 2021.

The estate attempted to sell last year the desired stake, but was paused after months of due diligence from potential bidders.

The filing on Friday said that by establishing the sale procedures now, the estate will be able to “coordinate and determine the optimal and appropriate timing for the sale of Anthropic Shares along with Anthropic Capital’s capital-raising efforts” as well as maximize the value of its estate “to the benefit of all stakeholder”

Hearings on this matter may take place in the next few weeks.

Parikshit Miishra is the editor.