Anthropic and OpenAI sketch plans to share their wealth ahead of IPOs
As they steam toward massive public offerings on Wall Street, the companies at the forefront of artificial intelligence have begun sketching plans to share their wealth with the public—a commitment they say is imperative to address disruptions the technology could bring to the workforce and people’s livelihoods. Executives at Anthropic and OpenAI have long argued the technology’s arrival will…
As AI companies Anthropic and OpenAI approach their anticipated public stock offerings, both firms are reportedly formulating plans to distribute their wealth to the public. The companies emphasize that sharing profits is crucial in addressing potential workforce disruptions caused by the rapid advancement of AI technology. Anthropic and OpenAI have consistently argued that AI's arrival will bring numerous benefits to everyday people, including a share of the profits.
However, key details about how they will distribute AI wealth, their level of transparency, and who will decide on beneficiaries remain unclear.
On Sunday, Anthropic announced it would allocate 5% of its shares to the Anthropic Public Benefit Fund, a new entity within the company, pending shareholder approval. The fund might expand "as the company grows" in the future. Anthropic shared minimal information on the types of organizations the fund would support and the issues they would address, stating it would not back lobbying or political giving.
Phil Buchanan, president of The Center for Effective Philanthropy, expressed support for Anthropic's commitment, especially in a time when some billionaires are downplaying the importance of philanthropy. The expert urged Anthropic to avoid arrogance and recommended that the fund focus on highly effective, existing nonprofits. The pledge depends on Wall Street plans, as Anthropic prepares to go public later this month, potentially through one of the largest IPOs ever.
Once public, donations might be made through future share sales or cash dividends, experts explain. Anthropic has already pledged $200 million to study AI's economic effects and aims to allocate roughly 20% of its shares to the public good. In a blog post, Anthropic highlighted labor market impacts as a key focus, stating the fund would have the "versatility" to pursue "bolder approaches" to mitigate potential instability for workers.
Anthropic's commitment comes amid skepticism from critics, who question whether the companies are merely courting public favor while retaining control and resisting transparency. OpenAI, structured as a public benefit corporation, has committed $1 billion to grantmaking capacity and proposed a "Public Wealth Fund" with a stake in AI-driven economic growth, potentially distributing returns directly to individuals. OpenAI CEO Sam Altman has also advocated for sharing equity in AI companies with the public.
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