Anthropic Commits 5% of Equity to New Public Benefit Fund
AI lab Anthropic announced it will commit 5% of its equity to a new public benefit fund ahead of its planned public offering, focusing on safety and labor market impacts.
Anthropic Commits 5% of Equity to Public Benefit Corporation
Artificial intelligence lab Anthropic, the developer of the Claude chatbot, has announced it will commit 5% of its equity to a new public benefit fund. According to the company, the step will provide it with increased flexibility and scale to make donations for the public good.
The proposed fund will be established as a wholly-owned limited liability company and will be eligible to receive an additional 2% of Anthropic's shares—at the discretion of the board of directors—for every 50% increase in the company's valuation above a yet-unveiled baseline threshold.
Preparing for a Historic Public Benefit Corporation IPO
The move comes as Anthropic plans one of the largest public offerings in history as a public benefit corporation—a legal structure that requires management to consider broader interests alongside maximizing profits for investors.
The company, which positions itself as an AI lab prioritizing safety, previously noted that AI could pose catastrophic or existential risks to humanity, dedicating about 80 pages of its 261-page prospectus report to reviewing risk factors.
Reactions and Impact on the Labor Market
In a blog post, Anthropic stated that the public benefit fund will be able to support various initiatives, including donations to nonprofits, direct distribution to certain populations, and efforts to address the impact of technology on the labor market.
The announcement drew a reaction from competitors. Elon Musk, who manages competing firm xAI, posted on the X network that he recommends giving the shares directly to the public. Conversely, Anthropic emphasized the potential impact of AI on workers as one of the fund's main focus areas, following a previous commitment of 200 million dollars for research and addressing labor market disruptions.
Concerns about the labor market are not accidental. Many companies have already cut thousands of jobs after heavily investing in artificial intelligence, pointing to higher efficiency resulting from rapid technology adoption. Data from the International Monetary Fund shows that about 40% of jobs will be upgraded, downgraded, or eliminated due to artificial intelligence, a rate reaching up to 60% in advanced economies.
