Anthropic has announced that it is creating a public benefit fund and will place 5% of its shares in it, TechCrunch reports. The fund is set up as a wholly owned entity inside the company, and Anthropic has the option of adding a further 2% of its shares each time its valuation rises by half.
The AI developer said the money could go to large donations to established charities or to direct payments to particular groups of people, and pointed to the possible effects of AI on jobs, a subject it has already pledged $200 million to study. It said faster AI progress may call for bolder approaches. The move comes as public opinion of the AI industry sours, something chief executive Dario Amodei has called a crisis of trust. Details of who will run the fund and how it will choose projects are due in the coming months.
Source: TechCrunch
