OpenAI CEO Sam Altman has reportedly put forward a proposal to allocate 5% of the company’s equity to a U.S. sovereign wealth fund. The Financial Times detailed this development on Thursday, citing two individuals with knowledge of the matter. This initiative suggests that other artificial intelligence firms would contribute comparable stakes, though the precise execution details remain subject to considerable discussion.
According to the FT’s report, the rationale behind this proposed donation is twofold: to foster positive relations with the current administration and to proactively mitigate potential political backlash regarding AI’s growing influence.
These discussions echo earlier reports from CNBC in June, which were subsequently corroborated by former President Trump. He confirmed having engaged in conversations about “concepts where pieces could be given to the American public, where the American public essentially becomes a partner with the companies.” At that time, a specific percentage for the suggested equity contribution was not disclosed.
The current talks are still in a preliminary phase. The Financial Times indicates that any formal progression of such a plan would likely necessitate congressional approval, a requirement that would substantially complicate its implementation.
The concept of a public AI fund has been a recurring theme in Altman’s public discourse, with OpenAI progressively refining its proposals for such a fund’s structure. Most notably, a policy paper released by OpenAI in April, titled “Industrial Policy for the Intelligence Age,” outlined a public wealth fund designed to directly invest in AI laboratories and companies deploying AI technologies.
The document articulates the fund’s potential impact, stating: “Returns from the Fund could be distributed directly to citizens, allowing more people to participate directly in the upside of AI-driven growth, regardless of their starting wealth or access to capital.”
In a more assertive legislative move, Senator Bernie Sanders (I-VT) introduced a policy in June proposing a one-time 50% tax on the stock of AI companies. The collected shares would then be deposited into a public wealth fund. This bill, named the American AI Sovereign Wealth Fund Act, would target all “systemically important” AI enterprises, encompassing those involved in data centers, infrastructure, and robotics. A key provision allows companies like Google and SpaceX, where AI constitutes only a segment of their operations, to divest their non-AI components to avoid the taxation.
As of now, Senator Sanders' bill has not yet progressed to committee review.
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