Antropic contributes 5% of shares to public interest fund... “Responding to AI Job Shock”

(Seoul = Yonhap News) Reporter Joo-ho Jeong = Antropic, which is about to go public (IPO), has decided to contribute to a public interest fund to create a new 5% stake in the company. Including existing agreements, approximately 20% of the shares will be used for public interest purposes.

Antropic announced on its official blog on the 18th (local time) that it would donate 5% of its shares to the 'Antropic Public Service Fund' after shareholder approval.

It was decided to hand over an additional 2% of the shares at the discretion of the board of directors whenever the company value rises by 50% above the set standard value. As the company grows, the shares used for public benefit also increase.

Antropic said that this fund could be used for large-scale donations to non-profit organizations or direct distribution to specific classes, citing the impact that AI will have on the labor market as a representative example.

Antropic said, “AI can create enormous economic value, but it can also cause instability for many workers,” and added, “Considering the speed of AI development, a more bold approach may be necessary.”

Antropic previously pledged $200 million to research and respond to the labor market impact of AI, and this fund is intended to expand this.

The fund will be established in the form of a limited liability company (LLC) wholly owned by Antropic. Antropic announced that it would not use the fund's shares for lobbying or political donations inside or outside the United States.

Antropic said, "Technology companies often give incremental compensation to executives, but we instead divert that equity to the public good." Combining the co-founders' pledge to donate 80% of their shares and the employee's equity donation matching program, approximately 20% of the company's shares will be used for public interest purposes.

Antropic is preparing for the largest initial public offering (IPO) ever in the form of a public interest corporation (PBC). The fund's governance structure and the standard value for share expansion are scheduled to be disclosed in the coming months.