From TechCrunch · Anthony Ha · · 1m 20s
Anthropic commits 5% of shares to public benefit fund
The AI company is setting aside equity to fund projects for societal good, with room to add more as it grows in value.
In brief
The AI company is setting aside equity to fund projects for societal good, with room to add more as it grows in value. Anthropic is committing five percent of its shares to a public benefit fund to support societal projects, with an option to add two percent more for every fifty percent increase in company value…
Anthropic creates public benefit fund
Anthropic announced today it is creating a public benefit fund to give the company increased flexibility and scale to support projects for societal good.
Five percent of shares committed
Anthropic will commit five percent of its shares to the fund, structured as a wholly-owned entity within the company, with an option to contribute an additional two percent for every fifty percent increase in Anthropic's…
Fund could support nonprofits and populations
The company offered broad ideas for how the money might be used, such as large donations to traditional nonprofits or direct distributions to specific populations, and to study AI's impact on the job market.
“Given the pace of AI progress, bolder approaches may be needed. The Fund will have the versatility to pursue them.”
Governance details coming later
Anthropic said it will share more information about the fund's structure and governance in the coming months, as the AI industry faces increasingly negative public sentiment.
At a glance
Anthropic is committing five percent of its shares to a public benefit fund to support societal projects, with an option to add two percent more for every fifty percent increase in company value.
