Anthropic announced it will commit 5% of its shares to a new public benefit fund, with the stake potentially increasing as the company's valuation grows. The move comes ahead of a planned initial public offering.
Anthropic announced on Sunday that it plans to commit 5% of its shares to a new entity called the Anthropic Public Benefit Fund. The commitment is subject to stockholder approval. The company stated that the board may add an additional 2% of shares for every 50% increase in Anthropic’s value above an undisclosed baseline.
The fund will be established as a wholly-owned limited liability company (LLC) rather than a 501(c)(3) tax-exempt nonprofit. Anthropic said this structure provides "increased flexibility and scale" to support projects for societal good. The company noted that the fund could be used for "large donations to traditional nonprofits or direct distributions to specific populations."
Anthropic emphasized that none of the equity held by the LLC will be used for lobbying or political giving in the U.S. or internationally. The company said it will share more details about the fund's structure and governance in the coming months.
The announcement highlights concerns about the impact of artificial intelligence (AI) on the job market. Anthropic has already committed $200 million to study AI's effects on workers. In a statement, the company said, "Given the pace of AI progress, bolder approaches may be needed. The Fund will have the versatility to pursue them."
CEO Dario Amodei has previously described the negative public sentiment toward AI as "fundamentally a crisis of trust." The fund aims to address these concerns by dedicating a portion of the company's growth to public benefit.
The announcement comes as Anthropic prepares for a potential initial public offering (IPO). According to CNBC, Anthropic told investors its third-quarter revenue stands at $16.8 billion. The Financial Times reported the company's valuation at $965 billion, noting the 5% stake is worth around $48 billion at that valuation.
Lise Buyer, a partner at IPO advisory firm Class V Group, told CNBC that the move is "beneficial from an image perspective" and could be seen favorably if the funds support retraining or help workers find alternative employment.
Tesla and SpaceX CEO Elon Musk responded to the announcement on X, stating, "I recommend giving the shares directly to the public."
This move represents a significant shift in how a leading AI company allocates its equity. By combining this new commitment with existing pledges from founders and employees, Anthropic says roughly 20% of its shares will be dedicated to the public good. This structure aims to balance financial returns with social impact as the company scales and faces increasing scrutiny over AI's societal effects.
Sources
This article was drafted with AI assistance and checked against the sources above. Company claims are reported as claims. Cover image is AI-generated.
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