Abstract:
Anthropic announced on Sunday that it plans to invest 5% of the company's shares in a new public welfare fund; as the company's valuation rises, the shareholding ratio allocated to the fund may further increase. The plan still requires shareholder approval. The fund initially holds 5% of Anthropic's shares; the board of directors can add additional shares at its discretion: an additional 2% of shares will be allocated for every 50% increase in the company's valuation from an undisclosed benchmark value.
The company stated that this fund can be used for "large donation projects" - it can be donated to traditional non-profit organizations or targeted to specific groups; or it can adopt bolder plans to study and solve the job disruption and unemployment problems caused by AI.
An August report from the Pew Research Center showed that 71% of American adults believe that AI will reduce the number of jobs in the United States in the next two years.
The announcement stated that the fund will be established as a wholly-owned limited liability company (LLC), rather than a 501(c)(3) tax-exempt non-profit organization or other forms, to facilitate flexible switching of different donation modes. Anthropic emphasized that the LLC’s equity holdings may not be used for lobbying activities or political contributions in the United States or abroad.
Anthropic reportedly disclosed to investors that its third-quarter revenue reached $16.8 billion ahead of its planned IPO in November.
Lise Buyer, a partner at IPO consulting firm ClassVGroup, said that Anthropic’s announcement of the establishment of a public welfare fund at this time is not only a mandatory requirement for IPO preparations, but also “helpful in terms of image”, especially now that AI is reshaping the job market.
Bayer said that if the funds are used to retrain employees and help workers affected by AI find new jobs, then this move will receive positive reviews.
She added: "Of course, at a time when the AI industry is under strict scrutiny, this is also to enhance corporate reputation."
Anthropic stated that it will disclose more details about the fund structure and governance mechanism in the coming months, including the valuation threshold that triggers additional shares; the company will also announce the operation of the fund in a follow-up public welfare progress report.
In response to Anthropic’s announcement, Tesla and SpaceX CEO Elon Musk posted on the X platform that he “suggests directly handing over the shares to the public.”
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