AI developer Anthropic has announced the creation of a public benefit fund, committing 5% of its shares to a wholly-owned entity.
The structure includes provisions for an additional 2% share contribution per 50% valuation increase, with capital designated for nonprofit donations or direct distributions.
The structure and operation of the fund
The fund will operate as a wholly owned entity of the company itself. At the same time, the company has the option to contribute an additional 2% of shares for every 50% increase in the total value of the business.
According to the announcement, potential uses of the money include large donations to traditional nonprofits or even direct financial assistance to specific groups of people. The company has already allocated $200 million to study the impact of artificial intelligence on the labor market.
The climate of distrust
The move comes at a time when the artificial intelligence industry is facing intense public scrutiny, with the company's CEO, Dario Amodei, previously calling it a crisis of confidence.
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The company said it will release more information about the structure and management of the fund in the coming months.
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