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Anthropic says it will put 5% of its shares into a new public benefit fund meant to support projects for societal good
Anthropic says a new fund holding 5% of its shares will back projects for societal good, with room to grow as the company's value rises. Details on who controls the money are still to come.
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What happened
Anthropic announced that it is creating a "public benefit fund," a pool of company shares meant to support projects for societal good, TechCrunch reported. The company said the fund will give it "increased flexibility and scale" for that work.
Anthropic said it will commit 5% of its shares to the fund. It also described a way to add more shares over time and gave broad examples of how the money might be used. Key details about who will run the fund and how spending decisions will be made have not been released yet.
How the fund is set up
A 5% starting commitment
According to TechCrunch, Anthropic's initial commitment is 5% of its shares. The report does not give a dollar value for that stake. Based on the announcement as reported, the fund's size in dollars is not known.
More shares as the company grows
Anthropic said it has the option to contribute an additional 2% for every 50% increase in the company's value. Under that approach, the fund's share of the company could grow if Anthropic becomes more valuable. TechCrunch described the extra contributions as an option, not a requirement.
Kept inside the company
TechCrunch reported that the fund is structured as a wholly-owned entity within Anthropic. In other words, the fund sits inside the company rather than standing apart from it as a separate organization.
What the money could support
Nonprofits and direct payments
Anthropic offered only broad ideas for how the fund might spend its money. According to TechCrunch, the company's examples included "large donations to traditional nonprofits or direct distributions to specific populations." TechCrunch's report did not name any specific nonprofits or groups that would receive money.
AI's effect on jobs
The announcement also points to the effect AI might have on the job market. TechCrunch reported that Anthropic has already committed $200 million to study that question. The company suggested study alone may not be enough, saying, "Given the pace of AI progress, bolder approaches may be needed. The Fund will have the versatility to pursue them." For more on that topic, see our earlier coverage of Anthropic's report on fewer junior hires.
The backdrop: public trust in AI
TechCrunch noted that the announcement comes as the AI industry faces increasingly negative public sentiment. Anthropic CEO Dario Amodei has described that mood as "fundamentally a crisis of trust," according to TechCrunch. More coverage of the industry is in our AI and tech section.
Open questions about governance
The biggest open question is who will decide which public benefits are worth funding. Anthropic said it will share more information about the fund's structure and governance in the coming months, TechCrunch reported. Until then, it is unclear how projects will be chosen, how much money will go out and on what timeline.
What to watch next
- Details on the fund's structure and governance, which Anthropic said it will share in the coming months.
- Who will decide which projects and populations receive money from the fund.
- Whether the fund pursues the bolder approaches Anthropic said may be needed on AI's impact on the job market.
- Whether Anthropic uses its option to add 2% of its shares for every 50% increase in its value.
