A prominent tech investor and venture capitalist says the American taxpayer would win big if the federal government manages to make a deal with Sam Altman’s OpenAI.
In a new episode of the All-In Podcast, billionaire Chamath Palihapitiya says recent government deals indicate that the Trump administration is building a sovereign wealth fund for Americans.
“If I was the US government, to the extent that we are doing public-private partnerships, if there is a way for us taxpayers to own a piece of OpenAI, I would say great… So before everybody breathlessly complains, whether you see it or not, there is an enormous sovereign wealth fund that is being built by President Trump. And it is for the benefit of all American taxpayers.”
Palihapitiya notes that a government deal with OpenAI will favor US taxpayers over the long haul. He points to industrial-policy investments such as MP Materials and Intel (INTC) as proof that strategic government stakes can benefit the public.
“And so to the extent the people in government could underwrite an investment structure, like they have done in things like MP Materials, which is way up, things like Intel, which is way up. These guys are like really good, smart people… If they did do a deal with OpenAI, I think they probably get the best of it. And the American taxpayer would win. And I wouldn’t be angry at that…”
In August, news emerged that the US government had struck a deal with Intel to purchase a 10% stake in the company at $20.47 per share. By late October, the investment had more than doubled after INTC surged to as high as $42.
Palihapitiya’s comments come after a controversial statement by OpenAI CFO Sarah Friar, who floated the idea of a federal backstop for chip financing. CEO Sam Altman clarified Friar’s comment and then said that the US government should not rescue private AI firms.
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