Anthropic’s new fund could help address AI’s impact on jobs and workers

Artificial intelligence (AI) company Anthropic said on Sunday that it plans to set up the Anthropic Public Benefit Fund and donate 5% of its shares to it, for the “public good,” with a focus on addressing job instability caused by AI.

In a blog post, Anthropic stated that subject to stockholder approval, the fund will initially get a 5% stake in the company, and it can earn another 2% for every 50% rise in the company’s value above a baseline that has not been disclosed.

Companies worldwide, mainly technology firms, have cut thousands of jobs after investing in AI. A 2024 IMF study suggested almost 40% of jobs worldwide will be affected by AI, and as much as 60% in advanced economies.



Anthropic said that it hopes to address the job instability caused by AI. The company that it has already committed $200 million to studying and addressing the problem. The company might also explore large donations to traditional nonprofits or direct distribution to specific populations.

According to the company, the new commitment builds on pledges its co-founders and employees have already made. When the company was founded, its co-founders pledged to donate 80% of their equity holdings.

“When combined with today’s announcement, roughly 20% of Anthropic shares will be dedicated to the public good,” the company added.

None of the shares held by the fund would be used for lobbying or political donations in the US or overseas.

Tech billionaire Elon Musk responded to the announcement on X: “I recommend giving the shares directly to the public... This is what I will be doing.”

IPO ahead

The announcement follows Anthropic’s release of its initial public offering (IPO) prospectus in September, in which the company said AI could pose “catastrophic or existential risks to humanity.” The IPO is targeting a valuation of up to $2 trillion.