Anthropic to commit 5% stake to new ‘public benefit fund’
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Open this photo in gallery:Anthropic's logo is displayed at the company's Tokyo office. The Claude developer is planning one of the biggest IPOs in history as a public benefit corporation. Kim Kyung-Hoon/ReutersAI lab Anthropic, the developer of Claude, said on Sunday it will commit 5 per cent of its shares to a new public benefit fund so it has increased flexibility and scale to make donations for the “public good.”The proposed fund would be established as a wholly owned limited liability company and would receive an additional 2 per cent of Anthropic’s shares, at the board’s discretion, for every 50-per-cent increase in the company’s value above a baseline that has yet to be disclosed. The move comes at a time when Anthropic is planning one of the biggest IPOs in history as a public benefit corporation, a legal structure that requires management to consider certain broader interests as well as turning a profit for investors. It also comes against the backdrop of concerns around AI safety, following security breaches by AI systems and dire warnings from industry heads about the possibility of severe, even existential, risks of runaway AI development.
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