Anthropic to shift some shares into new ‘public good’ fund
This could allow the company to use some of the money to address ‘labour market impacts’
Anthropic, the AI startup behind the Claude large language model, will allocate 5% of its shares to a new "public benefit fund" aimed at addressing "labour market impacts" and other societal concerns, according to a recent announcement. The fund, subject to stockholder approval, will be a wholly-owned LLC and will grow as the company expands.
This move comes as the AI company prepares for an anticipated initial public offering, which could be one of the largest in history. The new fund is designed to complement the company's mission, enabling it to pursue its goals in innovative ways, such as mitigating AI's potential impact on job markets.
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Also reported by 8 other outlets
- Anthropic says it's committing 5% of its shares to a Public Benefit Fund, for a total of ~20% with co-founder and staff pledges, plus 2% per 50% valuation rise (Anthropic) anthropic.com
- Anthropic commits billions to a 'public benefit fund' businessinsider.com
- Anthropic to commit 5% stake to new public benefit fund freemalaysiatoday.com
- Anthropic commits 5% of shares to new public benefit fund investing.com
- Anthropic says it’s committing 5% of its shares to a ‘public benefit fund’ techcrunch.com
- Anthropic commits 5% of shares to new public benefit fund that could address AI job disruption cnbc.com
- Anthropic plans to set aside 5% of shares for public benefit fund before IPO seekingalpha.com
- Anthropic to commit 5% stake to new public benefit fund channelnewsasia.com
