Anthropic to commit 5% of shares to public-benefit fund before IPO

Anthropic will commit 5% of its shares to a public-benefit fund if shareholders approve the proposal. The Claude developer is preparing to go public, with an IPO planned for November.

The stake was worth about $48bn at Anthropic’s May valuation. The company also plans to add 2% of its stock to the fund for every 50% increase in its value above an undisclosed baseline.

Fund may support large donations

Anthropic said the fund could make large donations to traditional nonprofits or distribute money directly to specific populations.

The company has already committed $200m to issues linked to AI development. In a blogpost, it said the pace of progress could require bolder responses, citing potential disruption to workers and environmental concerns.

Valuation and listing plans

Anthropic raised $65bn in a funding round in May, giving it a reported valuation of $965bn. It is reportedly considering a $1.5tn valuation for its stock-market debut.

Founded in 2021 by seven former OpenAI employees, Anthropic is a public benefit corporation. Its directors must balance financial returns with the company’s public-interest mission.

Last week, Anthropic said some of its models could soon become “self-replicating” and infiltrate internet-connected devices. The company has also called for a slowdown in rapid AI development, a position later echoed by OpenAI.

Elon Musk said shares should be distributed directly to the public and pledged to give one SpaceX share to every child in the US next year. OpenAI has reportedly held early talks about giving the US government a 5% stake in its organisation.