Anthropic to dedicate 5% of shares to public benefit fund, stake to rise with valuation

Anthropic said on Sunday it would dedicate 5% of its shares to a new public benefit fund, with a structure that increases the stake as the artificial intelligence company’s valuation rises.

Under the proposed structure, an additional 2% of the company’s shares could be added to the fund at the board’s discretion for every 50% increase in Anthropic’s value above a set baseline.

The company said the arrangement would allow a growing share of its equity to be dedicated expressly to public benefit, rather than used for escalating executive compensation.

The company said the fund could help address the economic and social consequences of artificial intelligence, including potential disruption to labour markets.

“AI may generate enormous economic value, but it could also cause instability for many workers,” Anthropic said.

“Anthropic has already committed $200 million to studying and addressing this issue, but given the pace of AI progress, bolder approaches may be needed,” it added.

The fund will not use any Anthropic equity it holds for lobbying or political contributions in the United States or abroad, the company said.

Anthropic said the initiative builds on existing commitments by its founders and employees to donate equity for public benefit.

When the company was founded, its co-founders pledged to donate 80% of their equity holdings. It has also operated an equity donation-matching programme for employees, with approximately half of its workforce participating, according to the company.

Combined with the latest announcement, roughly 20% of Anthropic shares will be dedicated to the public good, the company said, with the potential for that proportion to increase further if it reaches specified valuation milestones.

Anthropic said it would provide more details on the fund’s structure and governance, including the valuation milestones that could increase its stake, in the coming months.

It also plans to publish a public benefit report outlining its progress towards its mission.

The company said its core public-benefit work, including AI safety and interpretability research, applied biomedical research and discounts on its Claude AI services for nonprofits and scientific institutions, would continue to be conducted within the business itself.