Artificial intelligence (AI) company Anthropic has announced it will commit 5% of its shares to a fund dedicated to making donations for the "public good". This announcement comes as the firm prepares for a potential stock market listing, which could value it at over $1tn (£750bn).
The proposed Public Benefit Fund could support non-profit organisations and initiatives aimed at addressing AI's impact on the jobs market. Anthropic stated that none of the shares held by the fund would be used for lobbying or political donations, either in the US or internationally. The fund could also potentially receive an additional 2% of the firm's shares at the discretion of its board.
The AI industry has faced increasing scrutiny over safety concerns and its potential effects on society and the economy. Anthropic reportedly noted in its initial public offering (IPO) filing that AI could pose "catastrophic or existential risks to humanity".
Last week, Anthropic informed prospective investors that its revenue increased by 45% to $16.8bn (£12.6bn) in the three months ending September. The company, like others in the AI sector, aims to demonstrate its capacity to generate substantial profits despite significant investments in technology development and infrastructure.