OMM Newsroom
Artificial intelligence company “Anthropic” says it will commit 5% of its shares to a fund that will make donations for the public good.
The announcement comes as “Anthropic” prepares for a potential stock market listing that could value the company at more than $1tn (£750bn), according to the BBC.
The AI industry has faced growing scrutiny over safety concerns and its potential effects on society and the economy. “Anthropic” reportedly said in its initial public offering filing that AI could pose “catastrophic or existential risks to humanity”.
The proposed Public Benefit Fund could support nonprofit organisations and efforts to address AI’s impact on the jobs market, “Anthropic” said. Shares held by the fund would not be used for lobbying or political donations in the US or overseas.
The fund could receive a further 2% of the company’s shares at the discretion of its board, the developer of “Claude” said in a statement released on Sunday.
Technology billionaire Elon Musk responded on social media: “I recommend giving the shares directly to the public.” He added: “This is what I will be doing.”
Last week, “Anthropic” told prospective investors that its revenue rose by 45% to $16.8bn (£12.6bn) in the three months to the end of September.
Like other AI companies, “Anthropic” is seeking to show it can generate substantial profits despite spending billions of dollars on developing the technology and building infrastructure to power its models.
Companies around the world, primarily in the technology sector, have cut thousands of jobs after investing in AI, with many citing efficiency gains from its adoption.
Research published by the International Monetary Fund in 2024 suggested that AI would affect almost 40% of jobs worldwide, rising to as much as 60% in advanced economies.
