Anthropic commits 5% of shares to public benefit fund
AI company Anthropic announced the creation of a "public benefit fund," to which it will commit 5% of its shares. The fund aims to support societal good and provide increased flexibility for impactful projects.
AI company Anthropic announced on Monday that it is establishing a "public benefit fund" where the company will commit 5% of its shares. The stated goal of the fund is to provide the company with "increased flexibility and scale" to support projects focused on societal good.
The fund is structured as a wholly-owned entity within Anthropic. The company also noted an option to contribute an additional 2% of its shares for every 50% increase in Anthropic's value. Potential uses for the funds mentioned include significant donations to traditional nonprofits or direct distributions to specific populations.
This announcement comes as the artificial intelligence industry faces growing public scrutiny. Anthropic CEO Dario Amodei has previously described the sector's challenges as "fundamentally a crisis of trust." The company has previously committed $200 million to a research fund examining AI's impact on the job market.
Anthropic stated that further details regarding the fund's governance structure and decision-making processes will be shared in the coming months. The new fund is intended to allow the company to pursue bolder approaches in addressing AI's societal implications.