Anthropic proposes 5% share commitment to benefit fund

Anthropic said it plans to commit 5% of its shares to a new public-benefit fund, a proposed allocation that could grow as the artificial intelligence company’s valuation rises. The initial commitment is subject to stockholder approval, and Anthropic has not set a date for a vote. The company said its board could add another 2% of its shares for each 50% increase in Anthropic’s value above a baseline, at the board’s discretion. Anthropic has not disclosed that baseline or the specific valuation milestones. The additional allocations are also subject to board approval. Anthropic described the fund as a wholly owned limited liability company, rather than a tax-exempt charity, saying the structure would allow it to support different forms of giving. Possible uses include large donations to nonprofit organizations or direct distributions to specific populations. The company has not named recipients or detailed how the fund would convert its equity holdings into support. Anthropic said shares held by the fund would not be used for lobbying or political contributions. It cited labor-market effects of artificial intelligence as one possible area for support, and said it has already...