IPOs for Open AI, Anthropic could unlock $430B for charity in mind-boggling philanthropic wave not seen since Gilded Age

Source: New York Post

Initial public offerings for OpenAI and Anthropic stand to unlock an estimated $430 billion in charity pledges, rivaling the gifts of American tycoons during the Gilded Age. With the companies’ looming IPOs estimated to generate more than $1 trillion each, both AI giants have pledged to give billions of dollars away in what would be an unprecedented philanthropic wave that could benefit charities around the world, The Economist reported. “This could be a moment where hundreds of millions of lives can be improved, and there may not be many moments like that in history,” said Nick Allardice of the charity GiveDirectly, which doles out cash to the poor.