Anthropic Pledges Shares to Public Benefit Fund

Anthropic says it will dedicate 5 percent of its shares to a new Anthropic Public Benefit Fund, subject to stockholder approval, and may increase the contribution as the company’s value rises. Under the plan announced on Sunday, the board could add another 2 percent of the company’s shares for every 50 percent increase in its value. Anthropic says the fund is intended to direct equity toward public benefit rather than escalating executive compensation, and could support established nonprofits or make direct distributions to particular populations. One possible focus is disruption to employment caused by AI. The company says it has already committed $200 million to studying and addressing that issue, while warning that the pace of AI progress may require bolder measures. The fund will not be used for lobbying or political donations in the United States or abroad. Founded in 2021 by former employees of OpenAI, Anthropic makes the Claude AI assistant and is registered in Delaware as a public benefit corporation. It is preparing for a possible stock-market listing before the end of 2026, which analysts say could value it at more than $2 trillion. Its charter requires leaders to balance shareholder returns with responsible AI development. The announcement comes amid heightened scrutiny and concern about the social consequences of advanced AI, particularly its effects on jobs. A recent McKinsey report estimated that as many as 11 million US workers may need to change careers over the next decade because of AI-driven automation.

Anthropic says it will allocate 5% of its shares to a Public Benefit Fund, which will make donations for the public good. The fund could support nonprofit organisations and efforts to address AI’s effects on employment. Anthropic says the shares will not be used for lobbying or political donations, and its board could choose to add another 2% of the company’s shares. The announcement comes as the company prepares for a possible initial public offering that could value it at more than $1tn. The move comes amid growing attention to AI safety and the technology’s effects on society and the economy. Anthropic reportedly warned in its IPO filing that AI could create “catastrophic or existential risks to humanity.” Research cited from the International Monetary Fund estimated that AI could affect nearly 40% of jobs worldwide, and as many as 60% in advanced economies. Companies, especially in technology, have already cut thousands of jobs while citing efficiency gains from AI. Anthropic also recently told prospective investors that its revenue rose 45% to $16.8bn in the three months to September’s end. Like other AI companies, it is seeking to demonstrate the potential for substantial profits while spending heavily on technology development and infrastructure. The article places the fund announcement alongside calls for caution about AI’s development. Former Anthropic researcher Jacob Coxon said people working on AI were frightened by the pace of progress and warned of possible consequences for humanity. Anthropic chief Dario Amodei has previously advocated slowing development, a position that rival executives Sam Altman and Elon Musk have also supported alongside regulation and independent monitoring. Musk criticized Anthropic’s plan, saying he would give shares directly to the public. Meanwhile, US President Donald Trump and AI company leaders signed a nonbinding safety commitment, and Trump appointed intelligence director Jay Clayton to lead a taskforce coordinating government engagement on AI.

Anthropic says it plans to place 5% of its shares in a new Public Benefit Fund, subject to stockholder approval. The board could increase the stake by an additional 2 percentage points for every 50% increase in the company’s value above a baseline that has not yet been disclosed. Anthropic has not committed to a single use for the fund: possible options include donations to nonprofits, direct distributions to particular populations, and programs to study or respond to AI-related job disruption and displacement. The company said it has already committed $200 million to research AI’s effects, but that the pace of technological progress may require more ambitious approaches. The fund will be set up as a wholly owned limited liability company rather than as a tax-exempt 501(c)(3) nonprofit, a structure Anthropic says would allow it to adjust among different forms of giving. Anthropic says the LLC’s shares will not be used for lobbying or political contributions, in the United States or internationally. The company plans to provide further details about governance, structure, and valuation milestones in the coming months, and to report on progress in a future public benefit report. The announcement comes as Anthropic prepares for a reported November initial public offering. CNBC said the company told investors its third-quarter revenue was $16.8 billion. IPO adviser Lise Buyer said the public-benefit commitment is necessary preparation for an IPO and could also benefit the company’s image, particularly as AI changes the labor market. She said the fund could be viewed favorably if it supports retraining or helps displaced workers find other jobs, while also noting that the move may help improve Anthropic’s reputation amid scrutiny of AI. Elon Musk responded on X by recommending that the shares be given directly to the public. The article also cites a Pew Research Center report in which 71% of U.S. adults said they expect AI to lead to fewer jobs in the country over the next two years.