In the spring, OpenAI first proposed creating an AI wealth fund that “provides every citizen—including those not invested in financial markets—with a stake in AI-driven economic growth,” FT reported. For society to benefit as much as possible, an OpenAI blog said, an “AI-led future” will likely require “new approaches that give people durable stakes in the systems creating value.”
So far, OpenAI has talked with Trump officials such as Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, as well as Senator Bernie Sanders (I-Vt.), sources told FT.
Sanders has made it clear he’s not impressed with the numbers OpenAI is discussing, though. Last month, sources familiar with Sanders’ discussions with Altman told AP News that Altman remained “far apart” from the senator on how much stake in OpenAI the American public should have.
At that time, Sanders revealed his legislative proposal, which would create a much larger sovereign public wealth fund.
Sanders’ plan requires leading AI firms to pay a one-time 50 percent tax on their stock. Sanders estimated that the tax would yield about $7 trillion, which could be disbursed as direct payments to Americans or invested in programs such as health care, education, and housing.
According to FT, OpenAI has claimed that gifting a 5 percent stake to the US would give Americans more control over AI. But Sanders said the best way to ensure the public benefits from AI is to create a bipartisan Independent Commission for Democratic AI, with members nominated by the president and confirmed by the Senate. That commission could use voting shares to block leading AI firms from making decisions that could harm the public, Sanders told AP News.
“The public has got to have a significant seat at the table to make sure that terrible things do not happen to ordinary people, and that in fact, AI benefits ordinary people, not hurts them,” Sanders said.
For OpenAI’s “conceptual” proposal to work, Congress may have to get involved to implement the mechanisms that would allow the US to take a stake in any AI firms, FT reported. So it seems likely that OpenAI and other firms will be locking horns with Sanders to negotiate what’s fair and what keeps the public safe as AI technology rapidly advances and Americans fear job losses, cybersecurity risks, and a range of harms associated with massive data centers needed to power AI innovation.
Ars could not immediately reach Sanders for comment.
