AI firm Anthropic to commit 5% of shares to fund for ‘public good’

A major AI firm has pledged a $48 billion share allocation to a fund aimed at benefiting the public, marking a strategic move ahead of its planned stock market debut. The commitment, tied to the company’s latest valuation, includes an additional 2% of shares for every 50% surge in its value beyond a set benchmark, pending shareholder approval. The announcement follows growing scrutiny over tech industry practices and preparations for its public offering. The fund’s structure reflects efforts to address broader concerns about AI development while positioning the company as a responsible player in the sector.

The $48bn giveaway comes amid concerns about the tech and preparations for a stock market listingAnthropic has said it will commit 5% of its shares to a fund for the “public good”, as the AI developer behind the Claude chatbot seeks to bolster its appeal before its stock market listing.The company announced it would commit the shares, worth around $48bn (£36bn) at its latest valuation in May, subject to shareholder approval. It will add a further 2% of its stock to the fund for every 50% increase in its value above an undisclosed baseline. Continue reading...