Business · Companies · 4 hrs ago
Anthropic plans fund using 5% of its shares for public benefit
Anthropic plans to place 5% of its shares in a new public-benefit fund, subject to shareholder approval.
The San Francisco company, which makes the Claude assistant, says the fund could grow as the business expands and may support nonprofits or specific populations.
Anthropic is preparing for an IPO as soon as November, after being valued at nearly $1 trillion earlier this year.
OpenAI, another leading AI company, has said its foundation will expand grantmaking with a $1 billion investment.
Both companies are structured to pursue social good as well as profit, and their leaders have said ordinary people should share in AI’s benefits.
Key details remain unsettled, including how donations will work, how transparent the plans will be and who will receive support.
Critics have questioned Anthropic’s approach, while the company has said its fund will not support lobbying or political donations.
Anthropic plans to allocate 5% of its shares to a new public benefit fund, subject to shareholder approval.
The company said the fund may support traditional nonprofits or potentially distribute resources to specific populations.
The fund will not support lobbying or political donations, according to Anthropic.
The company has provided few details about which organizations or causes the fund will support.
Some critics have questioned the plan, including AI expert Gary Marcus, who said the company was resisting disclosure.
- Who
- Anthropic, the maker of the Claude virtual assistant.
- What
- It plans to allocate 5% of its shares to the Anthropic Public Benefit Fund, subject to shareholder approval.
- When
- The plan was announced on Sunday, October 18.
- Where
- The fund will be an entity within Anthropic, which is based in San Francisco.
- Why
- The company says the fund may direct resources toward public benefit as AI disrupts work and people’s lives.
Anthropic
Critics of the plan
Purpose
Anthropic
Anthropic says the fund may support nonprofits or specific populations.
Critics of the plan
Gary Marcus said the plan seeks public sympathy while the company maintains control and resists disclosure.
Transparency
Anthropic
Anthropic has said the fund may explore larger donations but has provided few details.
Critics of the plan
Critics have questioned the lack of transparency about how the fund will work and who will benefit.
Anthropic announced that it would allocate 5% of its shares to a new public benefit fund, subject to shareholder approval.
Anthropic is preparing for a possible initial public offering, which the article said could be one of the largest in history.
- Share allocation
- 5% of Anthropic’s shares
- Fund name
- Anthropic Public Benefit Fund
- Shareholder approval
- Required
- Headquarters
- San Francisco
- Possible IPO timing
- November 2026
What people are saying
may explore
Anthropic is playing dirty.
Trying to win public sympathy while maintaining control and resisting disclosure is irritating.