News Peg
According to the report, the proposal floated by OpenAI seeks to replicate the Alaska Permanent Fund, a sovereign wealth fund established in 1976 to invest the state’s surplus oil revenues. The fund pays out an annual dividend to the state’s residents, and as of May 31, it was valued at nearly $91.2 billion. It’s unclear which other companies would be on board to contribute to the fund, but OpenAI’s key competitors include Anthropic, Google and Meta. It’s also unclear if semiconductor giants like Nvidia, Micron and AMD—which have also benefited from the AI boom—would be expected to join.
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what has openAi said previously about profit sharing
In April, OpenAI published a outlining what it said was a new industrial policy to deal with the impact of so-called “superintelligence,” which it described as AI sthat can outperform even the smartest humans. Among other things, the policy document called for the creation of a Public Wealth Fund that would give the American people an automatic stake in AI companies and infrastructure—even if they are not investing directly in financial markets. The document also included other proposals including four-day work weeks, raising corporate tax rates to compensate for loss in income taxes and taxing businesses that replace human workers with AI.
What Has Trump Said About Government Ownership In AI Companies?
Last year, the U.S. government acquired a 10% stake in struggling semiconductor giant Intel. Since then, the president and other members of his administration have proposed taking up stakes in other chipmaking and AI companies. Last month, Trump told reporters that he was hearing “concepts where pieces could be given to the American public, where the American public essentially becomes a partner with the companies.” The president called the idea “interesting” and said his administration will “look into that.”
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tangent
According to FT, Altman has also held conversations with Sen. Bernie Sanders, I-Vt., on the matter. Last month the progressive senator pushed for a more expansive version of the purported OpenAI proposal that would see the U.S. government take a 50% stake in all major AI companies through a soveraign wealth fund.
further reading
OpenAI proposes handing Trump administration 5% stake (Financial Times)
Four Day Work Weeks, Public Wealth Fund: OpenAI’s Ideas For Our AI Future (Forbes)
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