Anthropic’s plan to set aside shares for public benefit faced doubts from former White House AI advisor David Sacks.
Anthropic’s plan to set aside shares for public benefit faced doubts from former White House AI advisor David Sacks.
Published Oct 18, 2026 | 11:22 PM EDT
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Anthropic announced on Sunday that it would commit 5% of its shares to a newly established “Public Benefit Fund.”
The Claude maker reported $16.8 billion in Q3 revenue at an investor meeting last week, up 45% from the previous quarter.
Reuters reported that some investors are discussing a $1.5 trillion valuation for Anthropic ahead of its potential IPO.
Billionaire Elon Musk has suggested that Anthropic should distribute its shares directly to the public, pushing back against the IPO-bound AI company’s new initiative to dedicate a portion of its equity to a proposed public benefit fund.
“I recommend giving the shares directly to the public,” the Tesla and SpaceX CEO said late Sunday in response to Anthropic’s announcement on X. “This is what I will be doing,” he added, without elaborating on the plans.
Anthropic on Sunday announced that it would commit 5% of its shares to a newly established Anthropic Public Benefit Fund, with the allocation potentially increasing by another 2% for every 50% rise in the company’s valuation above a specified baseline.
“Given the pace of AI progress, bolder approaches may be needed. The fund will have the versatility to pursue them,” Anthropic said in a press release, adding that the fund “might explore large donations to traditional nonprofits or direct distributions to specific populations.” The fund is structured as a wholly owned limited liability company (LLC).
Averytin News Financial update.