Axios: Trump’s AI treasure

Trump’s AI treasure
 
Illustration of President Trump hugging a giant cursor arrow
Photo illustration: Sarah Grillo/Axios. Photo: Nicholas Kamm/AFP via Getty Images
 
President Trump is raising the idea of the U.S. government taking stakes in AI giants — not out of populism, but with a dealmaker’s eye for profitAxios’ Dan Primack and Maria Curi write.

Why it matters: Government equity in private companies — anathema to free-market capitalism and Republican dogma about “picking winners and losers” — is a signature of Trump’s second term.

🖼️ The big picture: Companies like OpenAI and Anthropic may soon be worth trillions. So even small stakes could be meaningful to the federal government.

For example, a 2% stake in a $3 trillion company works out to $60 billion.

That gives the government a financial incentive to help these companies grow, which dovetails with Trump’s existing laissez-faire AI policy.

Zoom in: Sen. Bernie Sanders (I-Vt.) and Trump share an instinct that the government should capture a piece of AI’s windfall. But they would slice the pie very differently.

Sanders proposes requiring top AI companies to pay a one-time 50% tax in stock, flowing into a sovereign wealth fund that distributes gains to the public. Trump is discussing voluntary equity stakes that would give the government a direct cut of AI companies. He told reporters aboard Air Force One on Friday he wants Americans to be partners “in this revolution.”

“As far as economics is concerned, we have certain things that aren’t that far apart,” Trump said of Sanders.

👀 Behind the scenes: Populists may sense the White House tide turning on AI, given the recent departure of AI czar David Sacks, and Saturday’s announcement that deputy Sriram Krishnan will leave at the end of the month.

Neither left over policy disagreements. Sacks’ time as a special government employee was up, and he still advises the White House. Krishnan plans to launch an AI consulting group and will remain in Trump’s orbit.

Sacks has publicly cautioned against the government taking stakes in Big AI. But that’s mostly because of his libertarian leanings and what it could mean with Democrats in power — not because he believes Trump has gone soft on accelerationism.

🔮 What’s next: Trump said he plans to meet in the “very near future” with tech companies to discuss what a partnership with the government could look like.

OpenAI and Anthropic have each floated versions of public wealth funds.Share this story.
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About michelleclarke2015

Life event that changes all: Horse riding accident in Zimbabwe in 1993, a fractured skull et al including bipolar anxiety, chronic fatigue …. co-morbidities (Nietzche 'He who has the reason why can deal with any how' details my health history from 1993 to date). 17th 2017 August operation for breast cancer (no indications just an appointment came from BreastCheck through the Post). Trinity College Dublin Business Economics and Social Studies (but no degree) 1997-2003; UCD 1997/1998 night classes) essays, projects, writings. Trinity Horizon Programme 1997/98 (Centre for Women Studies Trinity College Dublin/St. Patrick's Foundation (Professor McKeon) EU Horizon funded: research study of 15 women (I was one of this group and it became the cornerstone of my journey to now 2017) over 9 mth period diagnosed with depression and their reintegration into society, with special emphasis on work, arts, further education; Notes from time at Trinity Horizon Project 1997/98; Articles written for Irishhealth.com 2003/2004; St Patricks Foundation monthly lecture notes for a specific period in time; Selection of Poetry including poems written by people I know; Quotations 1998-2017; other writings mainly with theme of social justice under the heading Citizen Journalism Ireland. Letters written to friends about life in Zimbabwe; Family history including Michael Comyn KC, my grandfather, my grandmother's family, the O'Donnellan ffrench Blake-Forsters; Moral wrong: An acrimonious divorce but the real injustice was the Catholic Church granting an annulment – you can read it and make your own judgment, I have mine. Topics I have written about include annual Brain Awareness week, Mashonaland Irish Associataion in Zimbabwe, Suicide (a life sentence to those left behind); Nostalgia: Tara Hill, Co. Meath.
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