Anthropic to commit 5% stake to new ‘public benefit fund’
Anthropic said the fund could support initiatives that include efforts to address artificial intelligence's impact on the labor market.
Artificial intelligence firm Anthropic has announced plans to commit 5% of its shares to a new public benefit fund, aiming to increase its flexibility and capacity to make donations for the "public good." This move is part of Anthropic's strategy as it prepares to go public as a public benefit corporation, a legal structure that requires the company to consider broader interests beyond profit.
The proposed fund would start with an initial 2% of shares, with the company's board having the discretion to add more shares for every 50% increase in the company's value above a baseline value that has not yet been disclosed.
Elon Musk, the founder of Anthropic's competitor xAI, suggested on X that the shares could be more beneficial if given directly to the public. Anthropic's blog post highlighted potential uses for the fund, including nonprofit donations, direct distributions to specific populations, and addressing AI's impact on the labor market. The company has already committed $200 million to studying and mitigating the disruption AI could cause in the labor market.
Anthropic emphasized that none of the equity held by the fund would be used for lobbying or political giving in the United States or internationally. As global companies have reduced staffing following heavy investments in AI, citing increased efficiency, the International Monetary Fund (IMF) research projects that 40% of jobs will be augmented, downgraded, or eliminated by AI, with the percentage potentially reaching 60% in advanced economies.
U.S. policymakers are considering increased regulations for AI, and companies are actively shaping its regulation.
The AI company revealed that roughly 20% of its shares, excluding any further additions, will be dedicated to public purposes, including the new fund. Anthropic plans to disclose more details about the fund's governance, structure, and valuation thresholds in the coming months. Additionally, the company intends to publish a public-benefit report to outline its progress toward its mission.
Written by urgent.news from Japan Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
