Anthropic pledges 5% of shares to new public benefit fund
publishers 60articles 87first reported 9 Oct, 05:30 UTCdeveloping since 9 Oct · 24 editions
Anthropic plans to commit 5% of its shares to a new fund intended to support projects serving the public good, subject to shareholder approval.
The Anthropic Public Benefit Fund will be structured as a wholly owned limited liability company within the AI developer. Anthropic said that structure would give it flexibility to support measures ranging from large donations to nonprofit organizations to direct distributions to specific groups.
At the board’s discretion, the fund could receive an additional 2% of the company’s shares each time Anthropic’s value rises 50% above a baseline that has not yet been disclosed. The company said shares held by the fund would not be used for lobbying or political donations in the United States or elsewhere.
Anthropic cited the effect of artificial intelligence on employment as one area the fund could address. The company has already committed $200 million to studying and responding to AI’s labor-market effects, but said the pace of technological progress could require “bolder approaches.”
The company said it will provide further details about the fund’s structure, governance and valuation milestones in the coming months and report on its progress in a future public benefit report. The announcement comes as Anthropic prepares for a potential initial public offering.
HOW THIS STORY WAS MADE
Written from 8 articles, 5 with the publisher's own text; 8 independent newsrooms once syndicated copies count as one; this version written 240 h after the record first saw the story; the editor kept it as written.
- Publishers
- 60
- Source articles
- 87
- Given to the writer
- 8, 5 with the article's own text
- Independent newsrooms
- 8
- This version written
- 240 h after the record first saw the story
- Second model (editor)
- kept as written
- Publication gate
- passed
- Human review
- none
WHAT THE EDITOR DID
The second model checked the writer's draft against the same sources and published it as written.
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