Musk Pledges SpaceX Share for Every US Child

The context

Both pledges arrive as the AI industry faces growing scrutiny over safety and the technology's effect on jobs and society. Anthropic CEO Dario Amodei has described the public mood toward AI as "fundamentally a crisis of trust," according to TechCrunch. Companies worldwide, mostly in tech, have cut thousands of jobs after investing in AI, and 2024 research from the International Monetary Fund suggested nearly 40% of jobs globally will be affected by AI, rising to as much as 60% in advanced economies, the BBC reported.

SpaceX, which owns xAI, set the record for the largest initial public offering in history in June, raising $85.7 billion, per the BBC. Anthropic is preparing for a potential listing that could value the company at more than $1 trillion. Last week, the company told prospective investors its revenue rose 45% to $16.8 billion in the three months ending in September. Anthropic has separately committed $200 million to studying AI's impact on the job market, saying bolder approaches may be needed given the pace of progress.

Why it matters

Two of the biggest names in AI-adjacent tech announced large share giveaways within about 24 hours, a sign of how wealth generated in the AI era is beginning to reshape philanthropy, as the BBC reported. Musk's pledge, if carried out, would touch nearly every American family with children, while Anthropic's fund is explicitly designed with flexibility to respond to problems such as AI-driven job disruption. The timing matters: both moves come as the industry works to counter negative public sentiment over AI's risks to employment and society.

What’s next

Anthropic said it will share more information about the fund's structure and governance in the coming months, including who decides which projects to support. The mechanics of Musk's pledge remain unclear, as details on how shares would reach American children have not been disclosed. Also to watch: Anthropic's potential stock market listing, which could value the company above $1 trillion, and whether Musk follows through on his statement that this giveaway will be the first of many.