Anthropic said on Sunday that it will commit 5% of its shares to a new Public Benefit Fund, subject to shareholder approval. The shares are worth around $48 billion at Anthropic's latest valuation of $965 billion. Anthropic plans to add a further 2% of stock for every 50% increase in the company's value above an undisclosed baseline.
Anthropic said the fund would add to the company's work in fields such as AI safety and biomedical research. Anthropic said the fund could pursue bolder approaches to problems such as job losses from AI. Anthropic said the fund might explore large donations to traditional non-profits or direct distributions to specific populations.
The announcement follows growing public outcry over threats to jobs, increased data centre construction and the risk that AI could run catastrophically out of control. Anthropic is seeking to address public backlash ahead of its planned initial public offering. The offering is expected this year at a valuation around $2 trillion. Anthropic has warned investors that AI poses an "existential risk to humanity". Anthropic's securities filings attached to the planned offering highlight the potential for advanced models to manipulate, blackmail and exhibit other unpredictable behaviours.
Proposals to give the public a larger financial share of AI's benefits have long circulated in Silicon Valley. Elon Musk responded to Anthropic's announcement on Sunday by recommending that the shares be given directly to the public. Rival OpenAI discussed proposals over the summer to put around 5% of the company in public hands. Those discussions came as OpenAI faced greater scrutiny from the Trump administration and government controls on the release of OpenAI's most advanced models. The non-profit OpenAI Foundation owns just over a quarter of OpenAI.
Anthropic has positioned itself as a force for good but has faced public backlash while growing into one of the leading US AI labs. Anthropic said growth would allow a larger share of the company to be dedicated expressly to the public good. Seven former OpenAI staff members, including siblings Dario and Daniela Amodei, founded Anthropic in 2021 because of concerns about OpenAI's safety practices and commercial direction. Anthropic was established as a public benefit corporation. Anthropic's directors must balance financial returns for shareholders with the company's public-interest mission.
Anthropic said around 20% of its stock would be pledged to public causes following Sunday's announcement. Anthropic's founders have pledged to donate 80% of the founders' equity holdings. Anthropic has operated an equity donation programme that allows employees to pledge equity to charities.
Anthropic said the Public Benefit Fund would operate as a wholly owned limited-liability company rather than a tax-exempt charity. Anthropic said further details of the fund's structure and governance would be announced in the coming months. Anthropic said the valuation milestones that would trigger additional stock commitments would also be announced in the coming months.
Anthropic has also pitched a draft AI safety and security bill to US lawmakers. The proposal includes enabling courts, in certain extreme circumstances, to block models with dangerous capabilities and insufficient safeguards from being released. Anthony Cimino, Anthropic's head of federal affairs, said on Sunday that the proposals were a draft and Anthropic was still receiving early feedback from policymakers.
Anthropic to Allocate 5% of Shares to Public Benefit Fund
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Anthropic plans to allocate 5% of its shares to a Public Benefit Fund, pending shareholder approval. The shares are valued at $48 billion, based on a $965 billion company valuation. Anthropic will add 2% more stock for every 50% valuation increase. The fund will focus on AI safety, biomedical research, and societal challenges like AI-driven job displacement. The move follows rising concerns over AI risks and precedes a potential IPO at a $2 trillion valuation. Crypto news platforms are tracking how AI and crypto news might influence new token listings in the coming months.
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