AI start-up Anthropic announced it will commit 5 per cent of its shares, worth around $48bn, to a new 'public benefit fund' to address public backlash over AI safety and economic concerns ahead of its planned IPO. The company plans to add a further 2 per cent of stock for every 50 per cent increase in value above an undisclosed baseline. The Public Benefit Fund will support AI safety, biomedical research, and explore 'bolder approaches' to job losses from AI, including donations to non-profits and direct distributions to populations.
The move comes amid growing public outcry over AI's impact on jobs, data center construction, and existential risks to humanity. Anthropic has warned investors that AI poses an 'existential risk to humanity' and highlighted potential for models to manipulate, blackmail, and exhibit unpredictable behaviours. The company, founded in 2021 by ex-OpenAI staff, operates as a public benefit corporation balancing shareholder returns with public-interest mission. Following the announcement, around 20 per cent of its stock would be pledged to public causes, with founders pledging to donate 80 per cent of equity holdings.
Source: Financial Times Companies · Summarized by HeadlinesBriefing