Anthropic commits five per cent of shares to public benefit fund
Summarised from 2 outlets · Updated 19 Oct, 01:02 · Archive
AI lab Anthropic is committing five per cent of its shares to a new public benefit fund ahead of its planned IPO.
Anthropic, the AI lab behind Claude, has committed five per cent of its shares to a new public benefit fund. The proposed fund would be established as a wholly owned limited liability company and could grow further, receiving an additional two per cent of Anthropic's shares for every 50 per cent increase in the company's value above a baseline yet to be disclosed.
Anthropric said the Public Benefit Fund could support nonprofit donations, direct distributions to specific populations and efforts to address the impact of AI on the labour market. The company has previously announced a $US200 million commitment to study and address labour-market disruption. Anthropic has positioned itself as a safety-first AI lab and devoted roughly 80 pages of its prospectus to laying out risk factors, noting that AI could pose 'catastrophic or existential risks to humanity'.
The move comes as Anthropic prepares for one of the biggest IPOs in history, structured as a public benefit corporation. Such a legal structure requires management to consider broader interests beyond profit for investors. Elon Musk, who runs Anthropic rival xAI, said on X he recommended 'giving the shares directly to the public'.
How it is being reported
- Anthropic to commit to new 'public benefit fund'Anthropic says it is committing five per cent of its shares to a new "public benefit" fund, with the amount potentially increasing as its shares grow in value.The West Australian · 19 Oct, 00:50
- Anthropic to commit to new 'public benefit fund'Anthropic says it is committing five per cent of its shares to a new "public benefit" fund, with the amount potentially increasing as its shares grow in value.Perth Now · 19 Oct, 00:50
In this story: Anthropic · Claude · Elon Musk · xAI
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