Anthropic says it’s committing 5% of its shares to a ‘public benefit fund’
Anthropic commits 5% of shares to public benefit fund
By Technology Desk· 2 min read
Anthropic commits 5% of shares to public benefit fund
Key points
Anthropic, the artificial intelligence company that developed the AI assistant Claude, has announced a public benefit fund.
The company will commit 5 percent of its shares to the fund, with stockholder approval. This contribution will grow if Anthropic's market value increases. For every 50 percent rise in the company’s value, an additional 2 percent of shares will be added to the fund at the board’s discretion.
The fund is dedicated to public good initiatives. Anthropic said it will not use any shares in the fund for lobbying or political donations in the United States or overseas.
The pledge comes amid growing scrutiny of AI’s societal impact. Tech firms like Anthropic and Elon Musk’s SpaceX have made similar commitments. Musk said he will give one of his SpaceX shares to every child in America next year. He added that he recommends giving shares directly to the public.
Anthropic is preparing for a potential stock market listing that could value the firm at more than $1 trillion. SpaceX raised $85.7 billion in its record-setting IPO in June.
The fund is structured so that as Anthropic grows, a larger portion of its shares can be dedicated to public benefit.
This move follows concerns about AI safety and its potential effects on jobs and society.
An Anthropic AI model sent a false homicide tip to Philadelphia police
Anthropic’s announcement was made in a blog post and shared on social media.
The company is based in San Francisco.
The fund will not be used for political purposes.
The 5 percent share commitment is immediate, subject to stockholder approval.
The additional 2 percent is conditional on a 50 percent increase in market value.
The fund is not intended for lobbying or political donations.
The public benefit fund is a response to growing scrutiny of AI’s societal impact.
The pledge is part of a broader trend among tech firms to address public concerns about AI.
Musk’s plan to give a SpaceX share to every American child is separate from Anthropic’s fund but shares the same goal of public access to technology.
Anthropic’s fund is not linked to any political campaign or lobbying effort.
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The company has not specified how the fund will allocate its resources.
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