Anthropic, the developer of the Claude chatbot, announced it will place 5% of its shares into a public-benefit fund intended to support nonprofit organizations and help address the social and economic consequences of artificial intelligence. According to the BBC, the company's board may additionally allocate a further 2% of equity to the fund at its discretion.
The company said the shares could not be used for political donations or lobbying, a restriction meant to ensure the funds are directed toward public-interest purposes. Anthropic described the initiative as a way to fund nonprofits and efforts aimed at mitigating the labor-market impacts of AI.
Why this matters
The announcement comes as Anthropic prepares for a major initial public offering. The company's valuation at IPO could exceed $1 trillion. Anthropic also told investors that revenue for the quarter ending in September rose 45% to $16.8 billion.
Creating the public-benefit fund responds to broader concerns about the effects of AI: the technology is reshaping labor markets and raising safety and governance questions. A 2024 International Monetary Fund study cited by the company estimates that around 40% of jobs globally could be affected by AI, with the share in advanced economies possibly near 60%.
Reactions
Not everyone welcomed the plan. Elon Musk criticized Anthropic's proposal and suggested the company should distribute shares directly to people rather than placing them into a public-benefit fund.
Anthropic's move illustrates how AI developers are experimenting with governance and benefit-sharing mechanisms as they scale up and approach public markets, while their growing revenues and IPO plans attract substantial attention.
