OpenAI CEO Proposes Giving 5% Equity Stake to US Sovereign Wealth Fund

·1 views

OpenAI CEO Sam Altman has reportedly proposed donating 5% of the company's equity to a U.S. sovereign wealth fund. The proposal revives broader conversations about allowing the American public to benefit financially from the ongoing artificial intelligence boom. A sovereign wealth fund is a state-owned investment vehicle, meaning the stake could translate into public financial returns. The move signals OpenAI's interest in aligning its growth with national economic interests.

Read the full story at TechCrunch

This is an AI-generated summary. ShortSingh links to the original source for the complete article.

Discussion (0)

Magnify Ventures closes $46.6M Fund II with backing from Pivotal Ventures

Early-stage investment firm Magnify Ventures has successfully raised a $46.6 million second fund. Among the limited partners contributing to Fund II is Pivotal Ventures, the venture firm founded by Melinda French Gates. The fundraise marks a significant milestone for Magnify Ventures as it scales its investment activities. The capital will support the firm's continued focus on early-stage companies.

0 comments Read more at TechCrunch

TechnologyNYT Technology ·

Trump Administration Directs Data Centers to Use Backup Power Amid Extreme Heat

A severe heat wave with triple-digit temperatures is currently affecting large parts of the United States, straining the electrical grid. In response, the Trump administration has called on grid managers to mandate the use of backup power systems at data centers. These backup power sources typically sit idle but could help ease pressure on the grid during peak demand. The move aims to prevent potential blackouts as energy consumption surges due to the extreme weather conditions.

0 comments Read more at NYT Technology

TechnologyTechCrunch ·

TV Time app to shut down July 15 as Whip Media shifts to enterprise AI

TV Time, a widely used television tracking application, will permanently close on July 15. Its parent company, Whip Media, announced the shutdown as part of a strategic shift away from consumer products. The company is redirecting its focus toward developing enterprise-level artificial intelligence solutions. Users of the app will lose access to the platform once it goes offline on the stated date.

0 comments Read more at TechCrunch

TechnologyArs Technica ·

Trump Administration in Talks With OpenAI Over Potential US Government Stake

OpenAI CEO Sam Altman is reportedly in active discussions with the Trump administration regarding a potential US government stake in the company. The proposed stake stands at 5%, which falls significantly short of the target previously suggested by Senator Bernie Sanders. The negotiations reflect growing government interest in securing a formal financial interest in one of the world's leading AI firms. Details of the talks remain limited, with information coming primarily from insiders familiar with the matter.

0 comments Read more at Ars Technica