AI Business Humanity is negotiating a multi-billion-dollar funding round, reportedly potentially pushing its valuation to an astounding $150 billion.
According to a report by the Financial Times, the company is looking to raise between $3 billion and $5 billion from Middle Eastern investors.
FTX missed $10 billion
This fresh capital will expand with other major players in the AI space and significantly improve the capabilities of humanity in competing.
The reported potential valuations show a dramatic rise from the previous $61.5 billion figure. It has attracted interest from companies such as MGX, based in Abu Dhabi, as well as companies that focus on advanced technology.
If successful, the funds mark one of the biggest AI investments ever. The rise in humanity is also throwing new light on former investors, particularly the now-deprecated crypto exchange FTX.
FTX founder Sam Bankman-Fried invested $500 million in humanity in 2021. He acquired an 8% stake when the company was valued at just $2.5 billion.
FTX later sold its investment for $1.4 billion during bankruptcy proceedings after the human valuation rose to $18 billion.
The same 8% stake is now worth around $12 billion, as startups target a $150 billion valuation. This is almost a 10-fold increase from what FTX recovered.
The missed profits reflect the broader impact of bankruptcy on creditors and stakeholders seeking compensation.
Meanwhile, FTX has already begun repayments to its creditors, with the latest distribution paying nearly $5 billion on May 30th.
The repayment process began in February. We prioritized small claimants with approved claims under $50,000, including the interest accrued since the exchange collapsed in November 2022.
FTX will begin the next phase of payments on September 30th. This round covers class 5 customer qualification claims, class 6 general unsecured claims, and recently approved convenience claims.
These payments are part of the broader recovery strategies outlined in the Exchange Reorganization Plan.
However, not all creditors are set up to receive payment. The real estate excludes claimants from 49 countries that designate them as “restricted jurisdictions,” including China.
The decision sparked backlash from affected users who argued that the exclusion was unfair and could create a troubling precedent for future international bankruptcy cases.
