Subject to stockholder approval, the stake can grow by 2% for every 50% rise in Anthropic’s value above an undisclosed baseline; the company says none of it will fund lobbying or political giving.
Anthropic said on Sunday it will commit 5% of its shares to a new Anthropic Public Benefit Fund, subject to stockholder approval, Reuters and the company reported. According to Anthropic, the board can add another 2% for every 50% increase in the company’s value above a set baseline, which it has not disclosed. The fund is a wholly owned LLC rather than a 501(c)(3) charity, which Anthropic says gives it flexibility between kinds of giving, such as large donations to nonprofits or direct payments to specific groups. It names the effect of AI on jobs as one example, alongside the $200 million it has already committed to that issue. Anthropic says none of the fund’s equity will be used for lobbying or political giving. Counting earlier pledges by its co-founders and employees, the company says about 20% of its shares will be dedicated to public-good uses. It says details of the fund’s structure, governance and valuation milestones will come in the coming months.
Sources: Anthropic · Reuters via Investing.com