Anthropic said it will commit 5% of its equity to a new Public Benefit Fund, which will operate as a wholly owned LLC and support large donations to nonprofits or direct distributions to specific populations. The company has already committed $200 million to studying the effects of artificial intelligence, including potential labor-market disruption. Anthropic is preparing an initial public offering as soon as November at a reported valuation of about $2 trillion, putting the pledged equity’s paper value near $100 billion, although that would not represent cash held by the fund. The fund’s board could add shares equivalent to 2% of the company each time its value rises 50% above an undisclosed baseline, while the equity cannot be used for lobbying or political donations. Anthropic says founders’ pledges and an employee donation-matching program could bring the share of its equity dedicated to public purposes to roughly 20%. Elon Musk responded by promising one SpaceX share to every child in the United States next year, a pledge valued at about $10.5 billion based on roughly 72 million children and a SpaceX share price of about $147. Anthropic also recently presented lawmakers with a draft AI safety bill that would allow the government to block the release of models posing specified imminent risks, subject to Commerce Department action and a federal court order.