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Anthropic commits 5% of its stock to a new 'public benefit' fund

Anthropic said Sunday it is committing 5% of its shares to a new “public benefit” fund, with the fund’s worth potentially increasing as its shares grow in value.

Anthropic says it’s committing 5% of its shares to a ‘public benefit fund’

Anthropic said that it will commit 5% of its shares to the fund.

Anthropic is committing 5% of its shares to a ‘Public Benefit Fund’

The new Anthropic Public Benefit Fund will be a wholly owned LLC, which the company says will give it “flexibility.” It offered little information about how it would use the money, other than saying it wouldn’t fund lobbying or political donations. It offered limited examples of what it might do:

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Investing in the Public Benefit

Today, we’re committing a portion of Anthropic’s shares to the Anthropic Public Benefit Fund, a new entity with a structure that increases the stake as the company grows. Subject to stockholder approval, 5% of Anthropic’s shares will be committed today, with an additional 2% added at the board’s discretion for every 50% increase in the company’s value above a set baseline.

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