Anthropic makes pledge for public benefit initiative

Elon Musk and AI company Anthropic have announced ambitious plans to address concerns surrounding AI's impact on jobs and safety through multibillion-dollar giveaways. Musk, on Monday, pledged to give every American child a share in SpaceX, potentially worth $10.5 billion. Similarly, Anthropic announced it would put at least 5% of its equity into a new public benefit fund, with the potential to finance charitable donations and direct payments to those affected by AI-driven disruption.

Musk responded to Anthropic's announcement, recommending that shares be given directly to the public. If SpaceX's closing share price of $146.03 remains constant, the proposed giveaway would provide roughly $146 in equity to each of America's approximately 72 million children. However, details on the distribution process, qualification criteria, and timing of the transfers remain unclear.

Anthropic's announcement arrives as AI developers face mounting scrutiny over the technology's potential risks. The company's CEO, who is preparing for a potential stock market listing that could value it at over $1 trillion, stated that the fund could initially commit five percent of its shares, subject to shareholder approval.

This could later be increased by an additional two percent whenever the company's valuation rises by 50% above a set baseline. The fund could support various causes, including charities and assistance to workers whose jobs may be disrupted by AI. Unlike Musk's proposal, Anthropic's initiative would hold company equity to finance public benefit projects rather than distribute shares directly to individuals. Neither company has specified the final monetary amount that would reach beneficiaries.