President Trump is exploring a plan that could allow the U.S. government to obtain direct stakes in top AI companies. This move aligns him with unexpected allies, including some of his critics. Trump suggested earlier this month that he is contemplating ways for the public to become partners in this venture.
Trump’s consideration of this approach finds agreement from figures like Senator Bernie Sanders, the AI research group Anthropic, and OpenAI. This reflects the broad interest from both politicians and the tech industry in the potential wealth AI is poised to generate.
In June, reports surfaced that Trump’s administration was in discussions with AI firms about acquiring equity stakes. Trump mentioned upcoming meetings with tech industry leaders to further explore this proposal. He emphasized that such a plan could provide significant financial benefits to the American public, citing the scale of potential returns.
This strategy aligns with Trump’s previous experiences, as he has taken stakes in over 20 companies in his subsequent term. He referenced the government’s nearly 10% investment in Intel as an example when discussing AI investments.
Tad DeHaven, a policy analyst at the Cato Institute, commented, “With Trump, it’s about deals. This is government by dealmaking, government by transaction.” He highlighted Trump’s transactional approach to governance, focusing on leveraging control and power.
Further details on this topic are available at TheHill.com, which also offers a newsletter on technological policy developments. The newsletter, managed by Julia Shapero and Miranda Nazzaro, covers significant movements from Capitol Hill to Silicon Valley.
Other Technology News
Recent developments in tech policy include the rise of prediction markets impacting U.S. elections, concerns over AI data centers, and controversies surrounding self-driving technology in Tesla vehicles.
A notable legal development involved YouTube settling a case with a minor who alleged mental health impacts due to social media platforms. The settlement terms remain confidential.
Moreover, Representative Frank Pallone expressed support for a national AI data center moratorium until effective safeguards are in place.
Crypto Advocacy and Legislation
A new nonprofit named Crypto Watchdog has been established to bring attention to risks within the cryptocurrency sector. It aims to educate consumers on potential fraud, market manipulation, and other challenges. Executive Director Chapin Fay emphasized the group’s focus on accountability and understanding crypto-related risks.
The group’s advisory board includes Mitch Silber of the NYPD and Jack St. Martin from Nevada’s Republican Assembly Caucus.
Currently, Congress is engaging in discussions about the Clarity Act, which seeks to create a regulatory framework for the crypto industry.
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