727 FinancePANews October 19 news: Anthropic announced in the early hours of today that it will inject part of its shares into a newly established wholly-owned entity, the Anthropic Public Benefit Fund, which serves entirely the public interest. The fund's initial size is 5% of the company's shares; thereafter, each time the company's valuation grows by 50% relative to a set baseline, an additional 2% can be injected, up to approximately 20%. In response, Elon Musk replied with the suggestion to "just distribute the shares directly to the public," and subsequently added, "That's exactly what I'm going to do."
PANews October 19 news: Anthropic announced in the early hours of today that it will inject part of its shares into a newly established wholly-owned entity, the Anthropic Public Benefit Fund, which serves entirely the public interest. The fund's initial size is 5% of the company's shares; thereafter, each time the company's valuation grows by 50% relative to a set baseline, an additional 2% can be injected, up to approximately 20%. In response, Elon Musk replied with the suggestion to "just distribute the shares directly to the public," and subsequently added, "That's exactly what I'm going to do."