Anthropic announced Sunday it is committing 5 % of its shares to a public interest fund, with an additional 2 % for every 50 % increase in valuation, targeting 20 % of capital for public good in the long term. The company, whose IPO is expected mid-November on the Nasdaq at a valuation of roughly $2 trillion, chose a structure in the form of a wholly-owned subsidiary, retaining control over transferred shares and the pace of contributions. The cofounders have already pledged 80 % of their shareholdings, and nearly half of employees participate in the donation matching program. Several blind spots remain: the reference threshold for the first tier is unquantified, the fund’s board members and valuation milestones are unknown, and the frequency of the promised public benefit report has not been set.
Source: Read the original article
