Anthropic intends to give its founders 50.1% voting control as it prepares for a potential initial public offering, according to recent reports from Wall Street Engine. The arrangement is designed to protect management from external shareholder influence. The Delaware public benefit corporation already has an unusual governance framework that includes a Long-Term Benefit Trust and special Class T shares. Market pricing suggests investors are concerned about the governance model and that Anthropic’s potential market capitalization at the IPO close has edged lower. The structure remains under development and could change. Investor focus is likely to center on the company’s S-1 filing, potential roadshow dates and any feedback from the U.S. Securities and Exchange Commission (SEC), which could affect the IPO timetable and valuation expectations.