AI company Anthropic, which makes the Claude chatbot, said Sunday that it will commit 5% of its shares to a new public benefit fund, CNBC and the BBC reported. The plan needs approval from the company's shareholders, CNBC reported.

The fund could receive more shares later. The board may add 2 percentage points for every 50% increase in Anthropic's value above a baseline that has not been disclosed, CNBC reported. The BBC reported that the fund could receive another 2% of the shares at the board's discretion.

Anthropic said the fund could support nonprofit groups and efforts to address AI's effect on jobs, CNBC and the BBC reported. Shares held by the fund will not be used for lobbying or political donations in the US or abroad, the company said, according to CNBC and the BBC. The fund will be set up as a company that Anthropic wholly owns, not as a tax-exempt nonprofit, CNBC reported.

Anthropic said it has already committed $200 million to study AI's effects but that "given the pace of AI progress, bolder approaches may be needed," CNBC reported.

The plan comes as Anthropic prepares for a possible stock market listing, CNBC and the BBC reported. Anthropic's revenue for the three months to the end of September was $16.8 billion, according to figures it gave investors, CNBC and the BBC reported. The timing is "beneficial from an image perspective," said Lise Buyer, a partner at IPO advisory firm Class V Group, CNBC reported.

Elon Musk responded on social media. "I recommend giving the shares directly to the public," he wrote, the BBC reported. CNBC also reported his response.

Anthropic said it will share more about the fund's structure and governance in the coming months, CNBC reported.

What we know: Anthropic plans to put 5% of its shares in a fund, pending shareholder approval.
What we don't: How the fund will be run and how much it will give away.