Accra:US artificial intelligence company Anthropic has announced its plan to allocate 5% of its shares to a newly created public benefit fund. This commitment is set to expand as the company's valuation grows.

According to Anadolu Agency, the initial commitment to the Anthropic Public Benefit Fund requires stockholder approval. Additionally, the company may allocate an extra 2% of shares at the board's discretion for every 50% increase in the company's value above a predetermined baseline.

The fund aims to support initiatives that address the broad societal impacts of AI, such as potential disruptions in the labor market. Anthropic has already committed $200 million to researching and mitigating these issues.

Operating as a wholly owned limited liability company (LLC), the fund will have the flexibility to distribute resources either through donations to nonprofit organizations or direct financial assistance to specific populations.

This initiative is part of Anthropic's broader commitments, including pledges from its co-founders to donate 80% of their equity holdings and an employee donation program involving about half of its workforce. With this new commitment, approximately 20% of Anthropic's shares are dedicated to public benefit initiatives, with potential increases linked to future valuation milestones.