source: techcrunch ai: openai proposed donating 5% of its equity to a us sovereign wealth fund
level: business
openai ceo sam altman has proposed giving 5% of the company's equity to a us sovereign wealth fund, according to the financial times. other ai companies would also donate stakes under the plan, though details remain unclear. the donation aims to improve relations with the administration and address political concerns. similar ideas were discussed in june and confirmed by president trump, who mentioned concepts where the public becomes a partner with ai firms.
the talks are preliminary and likely need congressional approval, which could complicate matters. altman has publicly discussed a public ai fund, and openai's april policy paper outlined a wealth fund investing directly in ai labs. returns would be distributed to citizens, letting more people benefit from ai growth. separately, senator bernie sanders proposed a one-time 50% tax on ai company stock for a public fund, targeting systemically important ai firms, but the bill has not advanced.
the proposal reflects growing interest in sharing ai profits broadly. openai's paper argued a public fund could help distribute ai-driven economic gains. sanders' bill would apply to companies involved in data centers, infrastructure, or robotics, with provisions for spinning off non-ai units. both ideas face political and legal hurdles, but they signal a push to involve the public in ai wealth creation.
why it matters: this could shape how ai profits are shared, potentially funding public programs and reducing inequality from automation.
source: techcrunch ai: openai proposed donating 5% of its equity to a us sovereign wealth fund