OpenAI CEO Sam Altman has proposed donating 5% of the company’s equity to a U.S. sovereign wealth fund, the Financial Times reported on Thursday, citing two people familiar with the matter. Under the proposal, other AI companies would donate similar stakes, although significant questions remain about the specifics.
According to the FT’s reporting, the donation would be meant to “secure good relations with the administration and… address political blowback.” Similar discussions were reported by CNBC in June, and were subsequently confirmed by President Trump, who said he had discussed “concepts where pieces could be given to the American public, where the American public essentially becomes a partner with the companies.” At the time, no specific size for the proposed equity stake was given.
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Preliminary talks with uncertain path forward
The talks remain preliminary and, per the FT, it’s likely that any formal action would require congressional approval, which would significantly complicate the matter. The idea of a public AI fund has also been publicly discussed by Altman, and OpenAI has grown increasingly specific in its proposals for how such a fund could be structured.
OpenAI’s evolving policy framework
Most recently, a policy paper titled “Industrial Policy for the Intelligence Age,” released by OpenAI in April, proposed a public wealth fund that could invest directly in AI labs and companies deploying their technology. “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,” the document reads.
A more aggressive version of the policy was proposed by Sen. Bernie Sanders (I-VT) in June, calling for a one-time 50% tax on AI company stock, with the collected shares being deposited into a public wealth fund. The bill, called the American AI Sovereign Wealth Fund Act, would apply to all “systemically important” AI companies, including those dealing with data centers, infrastructure, or robotics. Under the proposal, companies like Google and SpaceX that include AI as only part of their business would be allowed to spin off non-AI portions of the company to avoid taxation. The bill has yet to advance to committee.
The OpenAI proposal, while smaller in scope than Sanders’ legislation, represents a significant step in the ongoing debate over how the economic benefits of AI should be distributed. Whether such a voluntary equity donation could gain traction in Congress remains an open question.
Frequently Asked Questions
What exactly did OpenAI propose regarding a sovereign wealth fund?
OpenAI CEO Sam Altman proposed donating 5% of the company’s equity to a U.S. sovereign wealth fund, according to a Financial Times report. The proposal also suggests other AI companies contribute similar stakes.
Why is OpenAI making this proposal?
The proposal is intended to secure good relations with the Trump administration and address potential political blowback over the rapid growth of AI companies, according to sources cited by the Financial Times.
Would this require congressional approval?
Yes, according to the Financial Times, any formal action would likely require congressional approval, which would significantly complicate the matter.
How does this compare to Senator Sanders’ proposed AI wealth fund bill?
Senator Bernie Sanders proposed the American AI Sovereign Wealth Fund Act in June, which would impose a one-time 50% tax on AI company stock to create a public wealth fund. OpenAI’s voluntary 5% donation is a smaller, voluntary alternative to that approach.
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