In the spring, OpenAI first proposed the creation of an AI wealth fund that “provides all citizens, including those not invested in financial markets, a share in AI-powered economic growth,” the FT reported. For society to benefit as much as possible, according to an OpenAI blog, an “AI-led future” will likely require “new approaches that give people lasting interests in the systems that create value.”
So far, OpenAI has spoken to Trump officials such as Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, as well as Sen. Bernie Sanders (I-Vt.), sources told the Financial Times.
However, Sanders has made it clear that he is not impressed with the numbers OpenAI is discussing. Last month, sources familiar with Sanders’ conversations with Altman told AP News that Altman stayed “far away” from the senator on how much involvement in OpenAI the American public should have.
At that time, Sanders revealed his legislative proposalwhich would create a much larger public sovereign wealth fund.
Sanders’ plan requires major AI companies to pay a flat 50 percent tax on their shares. Sanders estimated the tax would generate 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 the Financial Times, OpenAI has claimed that giving away a 5 percent stake to the United States would give Americans more control over AI. But Sanders said the best way to ensure the public benefits of AI is to create a bipartisan Independent Democratic AI Commission, with members nominated by the president and confirmed by the Senate. That commission could use voting shares to prevent major AI companies from making decisions that could harm the public, Sanders. told AP News.
“The public must have an important seat at the table to ensure that terrible things don’t happen to ordinary people and that AI actually benefits ordinary people, not harms them,” Sanders said.
For OpenAI’s “conceptual” proposal to work, Congress may have to get involved to put in place the mechanisms that would allow the United States to take a stake in any AI company, the FT reported. So it seems likely that OpenAI and other companies will clash with Sanders to negotiate what is fair and what keeps the public safe as AI technology advances rapidly and Americans fear job losses, cybersecurity risks, and a variety of harms associated with the massive data centers needed to drive AI innovation.
Ars could not immediately reach Sanders for comment.
