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AI Firm Anthropic Pledges 5% Shares to Public Good
19 Oct
Summary
- Anthropic committed 5% of its shares to a new public benefit fund.
- This fund's value could increase as the company's shares grow.
- Roughly 20% of Anthropic's shares will now be dedicated to public good.
Anthropic has announced a significant commitment, pledging 5% of its shares to a newly established public benefit fund. This fund, an internal entity within the company, is designed to offer greater flexibility and scale for pursuing Anthropic's mission through avenues such as substantial donations to nonprofits or direct aid to specific populations.
The company, co-founded by CEO Dario Amodei, was established as a public benefit corporation, reflecting its intent to balance profit with social responsibility. This latest move, combined with previous pledges, means that around 20% of Anthropic's shares will now be dedicated to the public good. This includes an equity donation match program for employees.
This strategic allocation of equity for public benefit comes as Anthropic reportedly plans a major initial public offering, potentially as early as November. The company has previously committed $200 million to study the labor market impacts of AI.
