- Fidelity marked up its shares in Anthropic by nearly 25% last year, according to a new SEC filing.
- The markup happened after Fidelity acquired Anthropic shares in bankruptcy proceedings for FTX.
- Fidelity is one of the few investors to back both Anthropic and its chief rival, OpenAI.
Mutual fund giant Fidelity marked up its stake in Anthropic last year by nearly 25%, according to a new SEC filing.
The markup occurred in the months after Fidelity, along with other financial firms, acquired Anthropic shares for $884 million in bankruptcy proceedings for crypto exchange FTX last March.
Fidelity Series Growth Company Fund priced its Anthropic shares at $30 a share at the end of August compared to $37.44 at the end of November, according to the filing.
Fidelity and Anthropic both declined to comment.
Fidelity is one of the few investors to back both Anthropic and its chief rival, OpenAI, something akin to betting on both Uber and Lyft before they went public.
Last fall, OpenAI asked funds to avoid investing in five competitors, including Anthropic, Reuters reported.
Anthropic shares are now trading at $51.44 on secondary markets implying a $33.2 billion valuation, according to brokerage platform Caplight. Anthropic is currently in advanced talks to raise $2 billion in a deal led by Lightspeed Venture Partners at a $60 billion valuation, the Wall Street Journal reported last month.
Fidelity also participated in OpenAI’s $6.6 billion funding round in October and has at least $100 million worth of stock in the Chat-GPT maker.
Meanwhile, the Journal also reported that OpenAI is in talks with Softbank for a new round of funding, which could value the company at as much as $300 billion.
