Anthropic says it’s committing 5% of its shares to a ‘public benefit fund’

TechCrunch
Anthropic is establishing a public benefit fund by committing 5% of its shares to support societal good projects.

Summary

Anthropic has announced the creation of a "public benefit fund," a wholly-owned entity designed to provide the company with the flexibility and scale to support projects for the benefit of society. The company is committing 5% of its shares to this fund, with a provision to contribute an additional 2% for every 50% increase in the company's valuation.

The fund's potential uses include large donations to traditional nonprofits or direct distributions to specific populations. Anthropic also noted that the fund could address broader challenges, such as the impact of AI on the job market, which the company has already pledged $200 million to study.

This move comes as the AI industry navigates growing public skepticism, a situation CEO Dario Amodei has characterized as a "crisis of trust." Further details regarding the fund's governance and decision-making structure are expected to be released in the coming months.

(Source:TechCrunch)