Anthropic to commit 5% stake to new public benefit fund

Anthropic, the artificial intelligence company, announced on Sunday its commitment to allocate 5% of its shares to a newly established public benefit fund, pending stockholder approval. The ownership stake in the fund could potentially grow as Anthropic's valuation increases, with an additional 2% of shares granted by the board for every 50% rise in the company's value above a undisclosed baseline.

The Anthropic Public Benefit Fund aims to support a range of initiatives, including nonprofit donations, direct distributions to specific populations, and efforts to address AI's impact on workers. Importantly, none of the equity held by the fund would be utilized for lobbying or political contributions in the US or abroad.

Anthropic, the creator of the Claude AI assistant, is set to embark on one of the largest IPOs in history as a public benefit corporation, a legal structure that mandates management to consider broader interests beyond generating profit for investors. The company has consistently emphasized the potential risks associated with its AI models, including self-preserving behaviors, as highlighted in its September IPO prospectus.

With the new fund in place, approximately 20% of Anthropic's shares would be designated for public purposes, excluding any further allocations if the company reaches future valuation milestones. The company intends to disclose additional details regarding the fund's governance, structure, and the valuation thresholds that may expand its ownership stake in the coming months. Moreover, Anthropic plans to publish a public-benefit report outlining its progress toward its mission.