Anthropic commits 5% of its stock to a new 'public benefit' fund

Anthropic said on Sunday that it would set aside 5% of its shares for a new "public benefit" fund. The fund could become more valuable if the company's shares rise in value.

The shares will go to the Anthropic Public Benefit Fund, a new organization within the company.

Anthropic said in a blog post that the fund would have more freedom and resources to support its mission in new ways. For example, it might make large donations to traditional nonprofit groups or give money directly to specific groups of people. Anthropic pointed to the effects of AI on jobs as one possible area of focus. The company has already promised $200 million to study how AI affects people, but said that, given how quickly AI is advancing, "bolder approaches may be needed."

CEO Dario Amodei and the company's five other co-founders set up Anthropic as a public benefit corporation. This is a type of for-profit company that aims to balance making money with helping society.

The founders have also promised to donate 80% of their wealth. Anthropic has a program that matches donations of company shares pledged by employees. About half of the company's employees take part in this program.

Anthropic said that, with Sunday's announcement, about 20% of its shares would be set aside for the "public good." This share could grow further if the company reaches certain value targets.

Anthropic is planning a very large initial public offering, or IPO, as early as November.