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Anthropic, the company behind the AI assistant Claude, says it will put 5% of its shares into a new fund dedicated to the “public good,” with the stake growing as the company’s value rises.

Getting into it: Anthropic announced the Public Benefit Fund on Sunday, saying it’s committing 5% of its shares immediately, pending shareholder approval, with its board able to add another 2% each time the company’s value climbs 50% past a baseline it hasn’t disclosed yet. The fund could make large donations to nonprofits, send money directly to “specific populations” and take on AI’s disruption of the job market, building on $200 million the company previously committed to studying the issue.

It will be set up as a company-owned LLC rather than a traditional nonprofit, and Anthropic says the fund’s shares can’t be spent on lobbying or political giving, in the US or anywhere else. Between this fund, its co-founders’ promise to donate 80% of their own stakes and a program matching employee donations, Anthropic says about a fifth of the company will go toward public causes. It plans to share more details on how the fund will be run in the coming months.

“It is common practice for tech companies to offer escalating compensation awards to their executives,” Anthropic said. “We are instead directing that equity to the public benefit.”

The announcement comes as Anthropic heads toward a stock market debut that could be the biggest ever, potentially raising up to $100 billion at a valuation of around $2 trillion, according to the Wall Street Journal. The company recently told investors its revenue jumped 45% to $16.8 billion last quarter.

It also lands at a time when AI companies face growing concern over job losses, with a Pew survey finding over 70% of US adults expect AI to mean fewer jobs over the next two years. Among our own audience, 46% said they believe AI could replace their job within the next five years.