Anthropic is transferring 5% of its shares—potentially worth $100 billion—to a new Public Benefit Fund to address AI-driven economic disruption. The move, pending shareholder approval, could become the largest philanthropic commitment in history if the company reaches a $2 trillion valuation at its upcoming IPO. Meanwhile, Elon Musk pledged to give every American child a share of SpaceX, valued at over $10 billion, likely via Trump Accounts.
Both initiatives have sparked criticism, with David Sacks questioning Anthropic’s structure and warns of a new era of feudalism where ad hoc charity replaces tax policy. The announcements come as AI stocks rebound after a recent sell-off, though concerns persist about infrastructure sustainability. Neocloud Nscale faced setbacks after Microsoft pulled out of a London data center project due to delayed power grid access, and Core Weave’s shares dropped 25% amid debt worries.
In other news, China’s GDP grew 4.5% in Q3, driven by AI and EV exports, while U.S. corporate tax revenue fell 15% due to accelerated write-offs under the One Big Beautiful Bill Act. The U.S. also threatened retaliation over potential EU restrictions on Starlink.
Source: New York Times Business · Summarized by HeadlinesBriefing