Anthropic says it will commit 5% of its shares to 'public benefit fund'

Anthropic said Sunday it will commit 5% of its shares to a public benefit fund that will make donations to nonprofits and support efforts to address AI's impact on the job market. The company's board can add another 2% at its discretion. None of the fund's shares will be used for lobbying or political donations in the US or overseas, Anthropic said.

Jack Clark, Anthropic's co-founder and Head of Public Benefit, led the announcement. The move comes as Anthropic prepares for a potential initial public offering that could value the company at over $1 trillion. In its IPO filing, Anthropic disclosed that AI could pose "catastrophic or existential risks to humanity."

Elon Musk responded on social media, saying "I recommend giving the shares directly to the public" and stating he will do the same with his own holdings.

Last week, Anthropic told prospective investors that its revenue surged 45% to $16.8 billion in the three months ending September 30. Like other AI firms, Anthropic is positioning itself as capable of generating huge profits despite spending billions on technology development and infrastructure.

The announcement reflects mounting pressure on AI companies over safety concerns and workforce impact. Research by the International Monetary Fund in 2024 suggested almost 40% of global jobs will be affected by AI, rising to 60% in advanced economies. Companies worldwide have cut thousands of jobs after adopting AI, citing increased efficiency.

In September, Jacob Coxon, a 27-year-old researcher who quit Anthropic, said people working on the technology were "genuinely frightened" about the speed of advancements. "I believe that if we don't slow down at the current rate of progress, there is a strong chance that we could all die in the immediate future," Coxon told the BBC.

Anthropic CEO Dario Amodei has previously called for AI development to slow down. Sam Altman of OpenAI and Musk have both agreed with proposals for industry-wide deceleration and independent monitoring of AI model development.

Earlier this month, President Donald Trump and heads of major AI firms signed a "morally binding" document making them responsible for ensuring their technology's safety. Trump has rejected laws controlling AI development despite the debate over potential risks. Trump named Jay Clayton, director of national intelligence, to head a new AI taskforce that will coordinate government engagement with consumers, companies and religious organizations.