Anthropic commits 5% of its shares to a public benefit fund
The fund could also receive an extra 2% for every 50% increase in Anthropic's value.
Money#02
5%
Shares committed to the new public benefit fund
Image: TechCrunch
5%Shares committed to the new public benefit fund
The short version
- Anthropic announced on Sunday that it is creating a "public benefit fund" to support projects for societal good.
- The company said it will commit 5% of its shares to the fund, which will be a wholly owned entity within the company.
- Anthropic said the fund could receive an additional 2% for every 50% increase in the company's value.
- Anthropic said it will share more information about structure and governance in the coming months.
Why it matters
The fund is a new way for an AI company to direct equity toward societal goals. Developers following AI policy and public trust will want to watch how the governance is set up, since the article says it has not yet been decided who will choose which benefits to fund.
“given the pace of AI progress, bolder approaches may be needed. The Fund will have the versatility to pursue them.”