ANTHROPIC PROPOSES 5% SHARE STAKE FOR PUBLIC BENEFIT FUND

Anthropic said on Sunday it plans to commit 5% of its shares to a new Public Benefit Fund, subject to shareholder approval. The fund would receive the initial stake immediately if shareholders approve the proposal. Under the plan, each 50% rise in Anthropic’s value above a set baseline would make another two percentage points of shares eligible for the fund. Anthropic has not disclosed the baseline, and its board would decide whether to make each additional contribution.

Anthropic said it has already committed $200 million to study the effects of artificial intelligence. In announcing the fund, the company said, “given the pace of AI progress, bolder approaches may be needed.” It said the fund could make large donations to non-profit organisations or distribute money directly to specific groups. Anthropic also identified programmes that study and address AI’s disruption and displacement of workers as a possible use of the fund.

Anthropic said it would establish the fund as a wholly owned limited liability company rather than a tax-exempt non-profit organisation. The company said that structure would let the fund use different forms of giving. It also said shares held by the fund would not be used for lobbying or political donations in the United States. In an August report, Pew Research Centre found that 71% of US adults thought AI would lead to fewer jobs in the country over the following two years.