Anthropic says it will commit 5% of its shares to a fund that makes donations for the public good. The announcement comes as the AI firm prepares a potential stock market listing that could value it at more than $1tn. Elon Musk responded by recommending that the shares go directly to the public.
Anthropic will commit 5% of its shares to a fund that will make donations for the public good, the Claude developer said in a statement released on Sunday. The firm calls the vehicle its Public Benefit Fund.
The move comes as Anthropic lays the ground for a potential blockbuster listing that could value the firm at more than $1tn. Anthropic reportedly said in its filing for the initial public offering that AI could pose catastrophic or existential risks to humanity.
What the fund could do
Anthropic said the proposed fund could support nonprofit organisations, as well as efforts to address AI's impact on the jobs market. However, none of the shares the fund holds would be used for lobbying or political donations in the US or overseas.
The fund could also receive another 2% of the firm's shares at its board's discretion.
Musk recommends giving shares to the public
Technology billionaire Elon Musk responded on social media. According to the BBC: "I recommend giving the shares directly to the public."
He later announced that next year he will give one of his SpaceX shares to every kid in America, calling it the first of many.
Scrutiny and revenue
The AI industry has come under intense scrutiny recently over safety concerns and fears about its impact on society and the economy. At the same time, Anthropic told prospective investors last week that its revenue surged by 45% to $16.8bn in the three months to the end of September.
Source: BBC News
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