Anthropic to commit 5% of shares to public benefit fund
Anthropic said it will commit 5% of its shares to a fund supporting the public good. The fund could back nonprofit organisations and efforts addressing AI’s impact on jobs, while a further 2% stake may be allocated at the board’s discretion.
Image: bbc.co.uk · Author: https://www.facebook.com/bbcnews · source articleEditorial excerpt for news reporting
Anthropic said it will commit 5% of its shares to a public benefit fund. The fund will make donations supporting initiatives intended to serve the public good.
It could support nonprofit organisations and efforts addressing artificial intelligence’s effect on the jobs market. Anthropic said none of the fund’s shares would be used for lobbying or political donations in the US or overseas.
Board may grant further shares
The Claude developer said in a statement released on Sunday that its board could allocate a further 2% stake to the fund at its discretion.
The announcement comes as Anthropic prepares for a potential initial public offering that could value the company at more than $1tn (£750bn). Last week, it told prospective investors that revenue had risen 45% to $16.8bn (£12.6bn) in the three months to the end of September.
AI safety and jobs concerns
Anthropic and other AI companies are seeking to show they can generate substantial profits despite spending billions of dollars developing the technology and building infrastructure for their models.
The industry faces scrutiny over safety and the effects of AI on economies and employment. A 2024 International Monetary Fund study estimated that AI could affect almost 40% of jobs worldwide and as many as 60% in advanced economies.
Anthropic co-founder and Head of Public Benefit Jack Clark is associated with the announcement. Elon Musk responded on social media by saying he recommended giving the shares directly to the public.
What we know
- Anthropic will commit 5% of its shares to a fund supporting public-benefit initiatives.
- The fund could support nonprofits and efforts responding to AI’s impact on employment.
- The board may allocate another 2% of the company to the fund.
- A potential IPO could value Anthropic at more than $1tn.
- Revenue rose 45% to $16.8bn in the three months to the end of September.
Trust: Multiple publishers
- Several publishers are cited. They may share the same underlying source; independent reporting is not automatically established.
- Sources: BBC Technology, The Guardian Business.
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