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Anthropic commits 5 pc of its stock to new 'public benefit' fund

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Anthropic commits 5 pc of its stock to new 'public benefit' fund

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Anthropic commits 5 pc of its stock to new 'public benefit' fund

Anthropic has pledged to allocate 5 percent of its shares to a newly established public benefit fund, aiming to back a variety of charitable projects, including traditional nonprofits and direct distributions. CEO Dario Amodei, along with the co-founders, intends to harmonize financial achievements with significant social contributions. They are also prepared to donate a considerable portion of their wealth while gearing up for a potential initial public offering soon.

Anthropic said it is committing 5 per cent of its shares to a new "public benefit" fund, with the fund's worth potentially increasing as its shares grow in value. The shares will go to the Anthropic Public Benefit Fund , a new entity within the company, it said on Sunday. The fund "will have increased flexibility and scale, enabling us to pursue our mission in new ways: for example, we might explore large donations to traditional nonprofits or direct distributions to specific populations," Anthropic said in a blog post. It gave labour market impacts as an example, saying that while it has already committed USD 200 million to study the effects of artificial intelligence , "given the pace of AI progress, bolder approaches may be needed".

CEO Dario Amodei and the company's five other co-founders established Anthropic as a public benefit corporation , a designation that for-profit companies select to balance financial goals and social impact.


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