Anthropic Plans Public Interest Fund Ahead of Potential $1tn IPO

Artificial intelligence (AI) company Anthropic has announced plans to invest 5% of its stock in a fund that will donate 5% of its stock to “public interest” causes.

The announcement comes as Anthropic lays the foundations for a potential blockbuster stock market listing that could value the company at more than $1tn (£750bn).

Anthropic fund could support AI-related causes

The AI industry has faced growing scrutiny over safety concerns and its potential impact on society and the economy. Anthropic reportedly said in its initial public offering (IPO) filing that AI could pose “catastrophic or existential risks to humanity”.

Anthropic said the proposed public interest fund could support nonprofit organisations and efforts to address AI’s impact on the job market.

The company added that the shares held by the fund would not be used for lobbying or political contributions in the United States or abroad.

Anthropic’s public interest fund may also receive an additional 2% of the company’s stock at the board’s discretion, the developer of the Claude AI assistant said in a statement on Sunday.

Elon Musk responds to Anthropic stock plan

Tech billionaire Elon Musk responded on social media: “I recommend transferring the shares directly to the public.” He added: “This is what I do.”

Anthropic reports strong sales growth

Anthropic told potential investors last week that its sales rose 45% to $16.8bn (£12.6bn) in the three months to the end of September.

Like other AI companies, Anthropic is seeking to position itself as capable of generating substantial profits despite spending billions of dollars developing the technology and building the infrastructure needed to power its models.

Companies around the world, particularly technology firms, are cutting thousands of jobs after investing in AI, while many are reporting efficiency gains from its implementation.

IMF warns AI could affect millions of jobs

An International Monetary Fund (IMF) study released in 2024 suggests that almost 40% of jobs worldwide could be affected by AI. In developed countries, that figure could rise to 60%.