Anthropic to commit 5 percent of equity to new public benefit fund

AI developer Anthropic has announced plans to allocate 5% of its shares to a fund dedicated to the public good ahead of a potential stock market listing.

The Claude creator stated that the new Public Benefit Fund could be used to provide donations to nonprofit organizations and support direct distributions to specific populations. According to the BBC, the firm may also address the impact of artificial intelligence on the job market through the fund. Anthropic's board maintains the discretion to add another 2% of the company's shares to the fund in the future.

This move comes as Anthropic prepares for a potential initial public offering (IPO) that could value the company at over $1 trillion. In its filing, the company reportedly acknowledged that AI technology could present existential or catastrophic risks to humanity. To maintain neutrality, Anthropic specified that none of the fund's shares would be used for political donations or lobbying efforts domestically or abroad.

Financial data shared with investors shows Anthropic's revenue grew by 45% to $16.8 billion in the three months ending in September. While the company is reporting significant growth, it continues to spend billions on infrastructure and technology development. Following the announcement, billionaire Elon Musk suggested on social media that the shares should instead be given directly to the public, claiming he intended to do the same.

Background

The announcement follows increasing scrutiny of the AI industry regarding safety and societal impact. A former researcher recently warned about the speed of AI advancement, while IMF research from 2024 estimated that up to 60% of jobs in advanced economies could be affected by the technology.