Trump’s AI wealth fund idea raises regulation concerns

Donald Trump has shown interest in creating a sovereign wealth fund tied to AI, saying the public could become “very rich” if companies give back. The idea overlaps unexpectedly with Bernie Sanders’s June 2026 proposal for a 50 per cent levy on AI companies paid to the US government in shares, based on the argument that AI systems draw on collective cultural production.

Sovereign wealth funds have historically managed commodity windfalls, with Norway’s fund now holding well over $2 trillion in assets and more than $390,000 per Norwegian citizen. Supporters could see AI as a similar windfall, especially as major US tech companies have driven much of the stock market’s recent gains. Yet the economics are uncertain, with OpenAI and Anthropic still under scrutiny over profitability and Nvidia’s investments raising questions about circular spending in the sector.

A government stake in AI firms could create a conflict of interest. If Washington held hundreds of billions in shares, it would have incentives to support the industry and fewer reasons to regulate it aggressively. Sam Altman’s suggestion that OpenAI give 5 per cent to a US sovereign wealth fund could therefore function as protection against regulation rather than a public benefit.