Anthropic commits 5% of shares to public benefit fund
publishers 63articles 96first reported 9 Oct, 05:30 UTCdeveloping since 9 Oct · 23 editions
Anthropic said Sunday it will commit 5% of its shares to a new fund intended to support public-benefit initiatives, subject to stockholder approval.
The Claude developer said the Anthropic Public Benefit Fund could make large donations to nonprofit organizations or distribute money directly to specific populations. The company identified disruption to the labor market from artificial intelligence as one issue the fund might address, noting that it has already committed $200 million to studying and responding to AI’s effects on work.
Anthropic said the fund could receive an additional 2% of the company’s shares, at the board’s discretion, for every 50% increase in the company’s value. It said shares held by the fund would not be used for lobbying or political donations in the United States or abroad.
The company is incorporated in Delaware as a public benefit corporation, a structure requiring leadership to balance financial returns with its stated public mission. Anthropic said that, when the new commitment is combined with pledges by its six cofounders and an employee equity-donation matching program, roughly 20% of its shares will be dedicated to the public good, with the potential for that proportion to grow if valuation milestones are reached.
The announcement comes as Anthropic prepares for a possible stock-market listing. Reuters reported that rival OpenAI is accelerating a roughly $30 billion fundraising round ahead of Anthropic’s expected public debut in mid-November.
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Written from 8 articles, 4 with the publisher's own text; 8 independent newsrooms once syndicated copies count as one; this version written 258 h after the record first saw the story; the editor kept it as written.
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- This version written
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