Artificial intelligence (AI) company Anthropic has announced that it will allocate 5 per cent of its shares to a dedicated fund for donations supporting the public good, as it prepares for a potential stock market listing that could value the company at more than $1 trillion (£750 billion).
The developer of AI model Claude said in a statement on Sunday that its proposed Public Benefit Fund could receive an additional 2 per cent of the company’s shares at the discretion of its board, reports BBC.
According to Anthropic, the fund could support non-profit organisations and initiatives addressing AI’s impact on the jobs market. The company added that none of the shares held by the fund would be used for lobbying or political donations in the US or overseas.
The announcement comes amid growing scrutiny of the AI industry over safety concerns, economic disruption and its wider impact on society. In its initial public offering (IPO) filing, Anthropic reportedly warned that AI technology could pose “catastrophic or existential risks to humanity”.
Responding to the announcement on social media, technology billionaire Elon Musk wrote, “I recommend giving the shares directly to the public”, adding, “This is what I will be doing”.
Last week, Anthropic disclosed to prospective investors that its revenue had surged 45 per cent to $16.8 billion (£12.6 billion) for the three months ending in September.
Like other AI companies, Anthropic is seeking to demonstrate its potential to generate substantial profits despite spending billions of dollars on developing technology and building the infrastructure needed to power its models.
Meanwhile, businesses around the world, particularly technology companies, have cut thousands of jobs after investing in AI, citing improved operational efficiency from its adoption.
Research published by the International Monetary Fund (IMF) in 2024 suggested that almost 40 per cent of jobs worldwide would be affected by AI, with the figure rising to as high as 60 per cent in advanced economies.
