Anthropic and Musk pledge shares as AI firms race for funding
Anthropic plans a fund holding 5% of its shares, with room to grow, while rival OpenAI seeks about $30 billion from investors before Anthropic's expected mid-November IPO.
By Standard Topic. AI-generated from the reporting listed under Coverage. Published . Updated .
What happened
Anthropic and Elon Musk have both announced plans to share AI-linked wealth with the public. Anthropic says the new fund will hold 5% of its shares, with potential for that stake to grow. Rival OpenAI is now seeking about $30 billion in fresh investor commitments before Anthropic's expected mid-November IPO.
Why it matters
The moves come as the AI industry faces worries about jobs, safety and the concentration of wealth. Anthropic and OpenAI are also competing for investors ahead of their listings.
Timeline
- Oct 19, 9:41 AM ET: Anthropic says it will commit 5% of its shares to a new public benefit fund.
- Oct 19, 10:30 AM ET: Elon Musk responds with a pledge to give each American child a SpaceX stake.
- Oct 19, 10:30 PM ET: OpenAI seeks to raise about $30 billion before Anthropic's expected mid-November IPO.
Coverage
- A closer look at Anthropic's $100 billion public-good gamble (Yahoo News)
- Musk and Anthropic kick off a new, weirder era of tech philanthropy (sfstandard.com)
- Anthropic is giving away 5% of the company. Why is everyone mad? (Yahoo News)
- Up to $100 Billion of Anthropic’s Shares to a ‘Benefit Fund’ (impakter.com)
- Anthropic and Elon Musk offer competing visions for sharing AI wealth (Reuters)
- Anthropic needs stockholder approval to commit 5% of itself to a public benefit fund (Shane S. Ellison)
- Anthropic, Musk vow billions in charitable donations (morningbrew.com)
- Anthropic Commits 5% Of Shares To New Public Benefit Fund With Potential For Future Increases (pulse2.com)
- Anthropic plans to commit 5% of its stock to a new public benefit fund (qz.com)
- Anthropic Pledges 5% Stake to New Public Benefit Fund (newser.com)
- Anthropic to commit 5% stake to new 'public benefit fund' (Reuters)
- Anthropic pledges at least 5% of shares to public-benefit fund (Semafor)
- Anthropic pledges 5% of shares to fund addressing AI impact on workers (Fox News)
- Anthropic commits 5% of shares to public benefit fund as valuation grows (proactiveinvestors.com)
- AI giant Anthropic pledges massive slice of company to help people whose jobs could be wiped out by AI (the-independent.com)
- Anthropic commits 5% of its shares to a new public benefit fund (Alina Maria Stan)
- Anthropic Pledges 5% Of Its Shares To A New Public Benefit Fund (macobserver.com)
- Anthropic says it will commit 5% of shares to ‘public benefit’ fund (Al Jazeera)
- Anthropic Commits 5% of its Stock to a New 'Public Benefit' Fund (broadbandbreakfast.com)
- Anthropic says it will commit 5% of its shares to 'public benefit fund' (AOL)
- Anthropic says it will commit 5% of its shares to 'public benefit fund' (BBC)
- Anthropic commits 5% of its stock to a new ‘public benefit’ fund and may give large donations to traditional nonprofits or to specific populations (AP)
- Anthropic To Create Fund For Public Benefit (wiba.iheart.com)
- Anthropic to Commit 5% of Its Shares to New ‘Public Benefit’ Fund (WSJ)
- Anthropic Wants A Slice Of Its IPO To Fund The Public Good (finimize.com)
- Anthropic says it’s committing 5% of its shares to a ‘public benefit fund’ (techcrunch.com)
- Anthropic Commits 5% Stake to Public Benefit Fund (Sofia Lindström)
- Investors question Anthropic's hidden power structure before IPO
- Anthropic and Musk pledge billions in shares as OpenAI races for funds
- Anthropic sets aside a slice of equity; Musk pledges shares too
- Anthropic posts $16.8 billion quarter ahead of IPO
- Anthropic's IPO push puts underwriting fees in spotlight
- Anthropic's IPO valuation faces scrutiny as New York official urges delay
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