OpenAI Proposes Sovereign AI Wealth Fund

OpenAI proposed contributing a 5% equity slice to a US national sovereign wealth fund. The plan, discussed with US government officials, sought to ensure broad-based economic benefit from artificial general intelligence (AGI) development. OpenAI Chief Executive Sam Altman advocated for this fund, suggesting it would manage the expected economic uplift from AGI.

The proposal emerged from discussions between Altman and federal agencies concerning the equitable distribution of AI's future wealth. The fund's objective would be to manage returns from AGI and distribute them to the public. Altman's discussions included figures such as Commerce Secretary Gina Raimondo.

The initiative to establish a national AI fund, potentially capitalised by AI company equity, reflects a broader conversation about AI profit sharing. Proponents argue such a fund could mitigate economic inequality caused by advanced AI. Skeptics question the practicality and oversight of a state-managed fund holding private company equity.

OpenAI's approach involved direct engagement with government to establish a mechanism for wealth distribution. The company's non-profit origins and subsequent for-profit structure have informed its vision for AI's societal impact. This proposal marks a tangible step towards formalising a method for public participation in AI's economic dividends. Would a government-controlled equity stake be an efficient mechanism for equitable wealth distribution?