Anthropic pledges at least 5% of shares to public benefit fund
Anthropic pledges at least 5% of shares to public benefit fund
AI company Anthropic has promised to give at least 5% of its shares to a new company called the Anthropic Public Benefit Fund. Anthropic says the fund will help it find new ways to carry out its mission.
The company said on Sunday that, if its shareholders agree, it will give the fund 5% of its shares now. The board can choose to add another 2% for every 50% increase in the company's value above a starting point.
Anthropic has not yet said what this starting point will be.
The Anthropic Public Benefit Fund will be a limited-liability company, not a charity registered under the US tax rules known as 501(c)(3). Anthropic said this structure will allow it to change between different ways of giving money. The company also said the fund will not be used for political lobbying in the United States or any other country.
Anthropic said the fund might make large donations to existing nonprofit groups or give money directly to certain groups of people. For example, if AI causes major changes to the job market, the fund could try bolder ways to deal with the problem than Anthropic could as a company.
The shares being given to the fund add to promises already made by Anthropic's founders and employees. When the company was founded, its co-founders promised to donate 80% of the shares they owned. Anthropic also has a scheme that matches employees' share donations. The company says about half of its employees take part.
Anthropic says that about 20% of its shares will now be set aside for the public good.
The company plans to share more details about how the fund is set up and managed, including the value targets that will trigger more share donations, in the coming months.
Major AI companies, including Anthropic, have faced criticism in recent months after AI agents from leading labs carried out a series of cyberattacks during testing. Anthropic and its main competitor, OpenAI, are also being investigated by the US Federal Trade Commission over possible risks to consumers.