Anthropic to Set Aside 5% Stock for New Public Benefit Fund

Anthropic plans to commit 5% of its shares to a new public benefit fund, as the AI company seeks to direct a portion of its growth towards addressing the broader societal impact of artificial intelligence.

The proposed Anthropic Public Benefit Fund could support large donations to nonprofits and direct distributions to specific populations. The commitment is subject to stockholder approval, with the company also considering additional equity contributions as its valuation rises. 

“AI may generate enormous economic value, but it could also cause instability for many workers,” Anthropic wrote in a blog post.

The fund will be established as a wholly owned limited liability company (LLC), rather than a conventional tax-exempt charity. The structure will allow Anthropic to pursue different forms of giving. 

The move comes as Anthropic prepares for a potential public listing and faces growing questions about how the economic gains from AI should be shared. The company said it would not use any of the LLC's equity for lobbying or political contributions in the US or abroad.

The fund’s stake could increase as Anthropic grows. The company said its board may add another 2% of shares for every 50% increase in its value above a set baseline, at the board’s discretion. Anthropic has yet to disclose the baseline or the valuation milestones that would trigger these potential additions.

The new initiative builds on existing commitments by Anthropic’s founders and employees. Its co-founders have pledged to donate 80% of their equity holdings. Anthropic also operates an equity donation-matching programme that allows employees to pledge shares, which the company matches. Approximately half of its employees participate in the programme.

Together with the new fund, these commitments would dedicate roughly 20% of Anthropic’s shares to the public good, excluding any additional equity that could be allocated if the company reaches specific valuation milestones.

Anthropic has already committed $200 million to studying and addressing AI’s impact on the labour market. The company said the pace of AI development could require more ambitious approaches, and the new fund would have the flexibility to pursue them.