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Anthropic says it will commit 5% of its shares to 'public benefit fund'

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Anthropic says it will commit 5% of its shares to 'public benefit fund'

Artificial intelligence (AI) giant Anthropic says it will commit 5% of its shares to a fund that will make donations for the "public good".

The announcement comes as Anthropic lays the ground for a potential blockbuster stock market listing that could value the firm at more than $1tn (£750bn).

The AI industry has come under intense scrutiny recently over safety concerns and fears about its impact on society and the economy. Anthropic reportedly said in its initial public offering (IPO) filing that AI could pose "catastrophic or existential risks to humanity".

Anthropic said its proposed fund could support nonprofit organisations, and efforts to address AI's impact on the jobs market.

None of the shares held by the the fund would be used for lobbying or political donations in the US or overseas, it added.

Anthropic's Public Benefit Fund could also receive another 2% of the firm's shares at its board's discretion, the Claude developer said in a statement released on Sunday.

Technology billionaire Elon Musk responded to the announcement on social media with: "I recommend giving the shares directly to the public." "This is what I will be doing," he added.

Last week, Anthropic told prospective investors that its revenue surged by 45% to $16.8bn (£12.6bn) in the three months to the end of September.

In common with other AI firms, it is seeking to position itself as being able to generate huge profits despite spending billions on developing the technology and building infrastructure to power its models.

Companies around the world, primarily technology firms, have cut thousands of jobs after investing in AI, with many pointing to higher efficiencies from its adoption.


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