Anthropic announced plans to dedicate 5% of its shares to a new public benefit fund, with the possibility of increasing this stake by an additional 2% for every 50% rise in the company's valuation, pending shareholder approval.
This fund aims to explore significant donations to nonprofits or direct distributions to affected populations, as well as to investigate the impact of AI on job displacement. A recent Pew Research Center report indicated that 71% of adults believe AI will reduce job availability in the U.S. over the next two years.
The fund will be structured as a limited liability company, allowing flexibility in its charitable activities, and will not engage in lobbying or political contributions. Anthropic's third-quarter revenue is reported at $16.8 billion, coinciding with its planned IPO in November.
Lise Buyer from Class V Group noted that this initiative not only prepares the company for its IPO but also enhances its public image amid growing scrutiny of AI's effects on employment. Elon Musk responded to the announcement by suggesting that shares should be given directly to the public