OpenAI Proposes Donating 5% of Its Equity to a US Sovereign Wealth Fund

A New Proposal That Redraws the Relationship Between AI and Public Capital

In a notable move that reveals a strategic shift among major AI companies toward the US government, the Financial Times has reported that OpenAI CEO Sam Altman put forward a proposal to grant 5% of the company's equity to a sovereign wealth fund managed by the United States. Other AI companies are expected to join the initiative with similar equity contributions, though the precise details of the arrangement have yet to be finalized.

The Political Motivations Behind the Proposal

This proposal cannot be read in isolation from the current political climate. Those familiar with the matter describe it as aimed at "strengthening the relationship with the US administration and easing the political criticism" directed at major tech companies. President Donald Trump previously indicated that he had held discussions about "mechanisms through which the American public could receive stakes in these companies and become genuine partners in their gains," though no specific figure was mentioned at the time.

From Idea to Paper: A Gradual Evolution

This proposal did not emerge overnight. Altman has publicly discussed the idea of a public investment fund for citizens' benefit for some time, and OpenAI's vision on the matter has developed gradually. Last April, the company published a policy paper titled "Industrial Policy for the Intelligence Age," in which it proposed creating a public wealth fund with the authority to invest directly in AI laboratories and companies that benefit from AI technologies.

The paper outlines an ambitious vision whereby "the fund's returns could be distributed directly to citizens, allowing a broader segment of the population to genuinely participate in AI-driven growth gains, regardless of their wealth level or access to capital."

The Sanders Proposal: A Bolder Version

On the other side, Senator Bernie Sanders introduced a bill called the "American AI Sovereign Wealth Fund Act," which calls for imposing a 50% windfall tax on AI company equity and depositing the collected stakes into a public wealth fund. The bill targets companies of "systemic importance" in the AI sector, including operators in the areas of data centers, infrastructure, and robotics.

The legislative language would allow large companies for which AI represents only part of their business — such as Google and SpaceX — to spin off their non-AI activities into separate entities in order to fall outside the scope of the tax.

Key Obstacles and Reservations

Despite the momentum surrounding these proposals, significant obstacles remain that could prevent them from becoming reality in the near term, most notably:

• Congressional Approval Required: Any formal action would likely require legislation from Congress, adding clear political complexity to the matter.
• Vague Implementation Details: The mechanisms for managing the fund and distributing its returns remain undefined.
• Early-Stage Negotiations: The ongoing discussions are characterized as exploratory, far from any binding commitments.

The Significance of the Broader Picture

This proposal reflects a growing trend toward rethinking how the wealth generated by AI is distributed across society. As tech companies race to achieve record profits, questions are mounting about who truly reaps the rewards of this technological revolution. Whatever the ultimate outcome of these discussions, the very introduction of the idea of "public partnership" with AI companies represents a turning point in the American political and economic discourse.

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