Anthropic says it’s committing 5% of its shares to a ‘public benefit fund’
Anthropic says it’s committing 5% of its shares to a ‘public benefit fund’
Anthropic announced the creation of a public benefit fund, committing 5% of its shares to support social welfare projects. The fund is a wholly-owned company entity, and an additional 2% of shares can be added for every 50% increase in Anthropic's value; possible uses include large donations to traditional nonprofits or direct distributions to specific groups. The company previously pledged $200 million to research AI's impact on the job market, and says the pace of AI progress may call for bolder approaches; the fund's structure and governance details will be announced in the coming months.
Anthropic announced today that it’s creating a “public benefit fund” that will give the company “increased flexibility and scale” to support projects for societal good.
Anthropic said that it will commit 5% of its shares to the fund — structured as a wholly-owned entity within the company — with the option to contribute an additional 2% for every 50% increase in Anthropic’s value. And it offered some broad-strokes ideas for how this money might actually be used, such as “large donations to traditional nonprofits or direct distributions to specific populations.”
There’s also the impact that AI might have on the job market, which Anthropic has already committed $200 million to study. But the company said, “Given the pace of AI progress, bolder approaches may be needed. The Fund will have the versatility to pursue them.”
Anthropic’s announcement comes as the AI industry faces increasingly negative public sentiment, which CEO Dario Amodei has described as “fundamentally a crisis of trust.”
If you’re wondering who will actually decide which public benefits are worth funding, Anthropic said it will share more information about structure and governance in the coming months.
Source: TechCrunch · AI · techcrunch.com