Anthropic pledges 5% of shares to public benefit fund ahead of IPO

Anthropic announced it will dedicate 5% of its shares, valued at approximately $48 billion based on a $965 billion valuation from a May funding round, to a new public benefit fund ahead of its expected November IPO. The share allocation can increase by up to 2% for every 50% rise in company value above an undisclosed baseline. Key details remain unclear, including the source of the shares, the baseline valuation, and how the fund will liquidate stock, leaving IPO buyers without answers on share dilution, valuation anchors, and payout mechanisms.