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Anthropic commits 5% of shares to new Public Benefit Fund

techOct 19, 202644139

Anthropic said it will commit 5% of its shares to a new Anthropic Public Benefit Fund, subject to shareholder approval. The board may add an extra 2% for every 50% increase in the company’s valuation above an undisclosed baseline. The fund will be formed as a wholly owned limited liability company rather than a 501(c)(3) to allow flexibility in how equity is used. Anthropic said the fund could make large donations to traditional nonprofits or make direct distributions to specific populations to study and address AI-driven job disruption. The company has already committed $200 million to study AI’s effects and said it will publish more details on the fund’s structure, governance, valuation milestones, and an upcoming public benefit report. Anthropic reported third-quarter revenue of $16.8 billion and is preparing for an initial public offering planned for November. Elon Musk responded by saying the shares should be given directly to the public.

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