Anthropic Puts 5% of Its Shares Into a 'Public Benefit' Fund

Anthropic will commit 5% of its shares to a fund that donates money for the public good, the AI company said in a statement released on Sunday. The move lands as the firm lays the ground for a stock market listing that could value it at more than $1tn (£750bn).

The Claude developer's Public Benefit Fund could also receive another 2% of the firm's shares at its board's discretion. None of the shares held by the fund would be used for lobbying or political donations in the US or overseas, Anthropic added.

That's the structure. Now the context: an AI giant heading to market while its own IPO filing reportedly warns that AI could pose "catastrophic or existential risks to humanity."

What will the fund actually pay for?

Anthropic said the proposed fund could support nonprofit organisations and efforts to address AI's impact on the jobs market. It did not put a dollar figure on the initial commitment — the value depends on where the company prices its shares.

The jobs angle is not abstract. Companies around the world, primarily technology firms, have cut thousands of jobs after investing in AI, with many pointing to higher efficiencies from its adoption. Research by the International Monetary Fund published in 2024 suggested that almost 40% of jobs worldwide will be affected by AI. In advanced economies, that figure rises as high as 60%.

The takeaway: Anthropic is tying its governance structure to the very disruption its own technology helps drive.

How strong is the business behind the pledge?

Very strong, by the latest numbers. Last week, Anthropic told prospective investors that revenue surged 45% to $16.8bn (£12.6bn) in the three months to the end of September.

That growth rate matters because Anthropic, like other AI firms, is spending billions on developing the technology and building infrastructure to power its models. It is seeking to position itself as able to generate huge profits despite that cost base — a pitch investors have heard from rivals across the sector.

A $16.8bn quarter, up 45%, is the number underwriting everything else in this story.

Who pushed back?

Elon Musk, and quickly. The technology billionaire responded to the announcement on social media: "I recommend giving the shares directly to the public." He added: "This is what I will be doing."

Musk's jab frames the fund as too controlled — a board-governed vehicle rather than a direct transfer of ownership. Whether that critique sticks, it signals the announcement will face scrutiny from rivals with their own audiences and their own capital plans.

What happens next?

The AI industry is already under intense scrutiny over safety concerns and fears about its impact on society and the economy. Anthropic's IPO filing — which reportedly includes that stark warning about existential risks — will test whether investors reward a company that flags the dangers of its own product while monetising it at a $1tn-plus valuation.

The fund's first grants, and the board's decision on the optional 2% top-up, are the next concrete signals to watch.