Blackbaud (NASDAQ:BLKB) jumped 5.3% in premarket trading Tuesday after unveiling a new partnership with Anthropic and announcing a major expansion of its share repurchase program.
The Charleston-based software firm, known for its tools serving nonprofits and social impact organizations, said it will supply the fundraising connector for Claude for Nonprofits. The integration links Blackbaud’s data intelligence capabilities with Anthropic’s AI technology, enabling users to access fundraising insights directly through platforms they already rely on.
The connector will launch first within Blackbaud Raiser’s Edge NXT and will roll out through the Teams and Enterprise subscription tiers, giving nonprofits a streamlined way to incorporate AI-driven recommendations into their fundraising workflows.
The collaboration marks another step in Blackbaud’s AI roadmap. The company recently introduced its Agents for Good—AI-powered virtual team members designed to support complex operational tasks for nonprofit teams. Its first Development Agent is currently available through an early access program.
Blackbaud also announced that its board has renewed and expanded the company’s stock buyback authorization, increasing it from $800 million to $1 billion. Since the repurchase initiative began in late 2023, Blackbaud has already cut its share count by more than 10%.
Ahead of the authorization increase on December 1, the company bought back 2,707,953 shares in 2025 for a total of $174.5 million, representing roughly 6.7% of its outstanding stock at year-end 2024. Management now expects to repurchase between 7.0% and 8.5% of outstanding shares for fiscal 2025.