Anthropic Pledges 5% Of Its Shares To New Public Benefit Fund - Dataconomy
Anthropic announced a fund to support projects that benefit society. The company said it would give 5% of its shares to the fund, which it will fully own.
The company said it could give the fund another 2% of its shares for every 50% increase in Anthropic's value.
Anthropic said the fund would give it more freedom and resources to support projects that benefit the public. Possible uses include making large donations to traditional nonprofit groups or giving money directly to specific groups of people, the company said.
The company has already committed $200 million to study how AI could affect the job market.
“Given the pace of AI progress, bolder approaches may be needed. The Fund will have the versatility to pursue them,” Anthropic said.
The announcement comes as more people view the AI industry negatively. Anthropic CEO Dario Amodei has described this situation as “fundamentally a crisis of trust.”
Anthropic said it would share more details about how the fund is organized and managed in the coming months. These details will include who decides which projects that benefit the public receive funding.