OpenAI CEO Sam Altman has reportedly put forward a proposal for the artificial intelligence giant to donate 5% of its equity to a US sovereign wealth fund. The initiative, first reported by the Financial Times, suggests that other AI companies could follow suit, though specific details remain under discussion.
This move is understood to be an effort to cultivate strong relationships with the US administration and mitigate potential political backlash concerning the rapid growth and financial gains within the AI industry. The concept of a public AI fund, enabling citizens to share in the economic upside of AI, has been a recurring theme in Altman's public discussions and OpenAI's policy papers.
The idea has garnered attention at high levels, with former President Trump confirming earlier discussions about similar concepts that could see the American public become 'partners' with these companies. While initial talks did not specify an equity stake, Altman's latest reported proposal provides a concrete figure.
OpenAI's policy paper, 'Industrial Policy for the Intelligence Age,' released in April, further elaborated on the structure of such a fund. It proposed direct investment in AI labs and technology deployment companies, with returns potentially distributed directly to citizens. This, the paper argued, would allow a broader segment of the population to benefit from AI-driven growth, irrespective of their existing wealth or access to capital.
Meanwhile, a more assertive legislative approach has been tabled by US Senator Bernie Sanders. His 'American AI Sovereign Wealth Fund Act' proposes a one-time 50% tax on the stock of 'systemically important' AI companies, with the collected shares flowing into a public wealth fund. This bill, which has yet to advance, aims to encompass companies involved in data centres, infrastructure, and robotics, allowing those with AI as only a partial business to spin off non-AI assets to avoid the tax.
These preliminary discussions highlight a growing debate about how the economic benefits of the AI revolution should be distributed, and how governments can ensure public participation and mitigate potential societal inequalities arising from technological advancement.