Trump Contemplates Government Stakes in AI

President Trump is exploring a strategy where the U.S. government would hold stakes in leading AI companies. This aligns him with some critics like Senator Bernie Sanders, along with AI firms like Anthropic and OpenAI. The aim is to involve the public as partners in the AI sector.

In early June, it was reported that the Trump administration began preliminary talks with AI companies regarding equity stakes. Trump confirmed plans to meet with tech leaders soon to discuss this. He highlighted the potential financial gains for the public, suggesting significant profits from such partnerships.

This concept is not novel for Trump, who has taken stakes in over 20 companies during his second term. He referred to the government’s previous acquisition of a nearly 10% stake in Intel as an example.

Policy analyst Tad DeHaven noted that Trump’s approach is transactional, focusing on deals and leverage rather than just taxpayer benefits or strengthening supply chains.

“This is government by dealmaking, government by transaction.” —Tad DeHaven, policy analyst

Check the full report on TheHill.com.

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Essential Reads

How policy changes impact the tech industry:

• Prediction market boom: Massive growth in prediction markets raises concerns about betting on political events, with platforms like Kalshi processing billions in trades each quarter.
• YouTube settlement: YouTube settled a case with a minor alleging mental health impacts; the terms remain confidential, avoiding a trial set for July 27.
• AI data center moratorium: Rep. Frank Pallone supported a temporary halt on AI data centers, aligning with national anti-establishment policies.
• Musk on Tesla crash: Elon Musk contested claims that Tesla’s self-driving software caused a fatal crash in Texas, challenging police and lawsuit allegations.

The Refresh

Highlights from tech intersections:

• OpenAI unveiled its first custom chip, created by Broadcom.
• Anthropic’s Mythos identified vulnerabilities in U.S. government systems.

Crypto Corner

A new consumer advocacy group, Crypto Watchdog, launched to highlight cryptocurrency risks. It aims to bring transparency to the industry, focusing on issues like consumer fraud and market manipulation.

Crypto Watchdog’s advisory board includes notable figures like Mitch Silber and Jack St. Martin. The group emphasizes accountability and educates the public about crypto risks.

This launch coincides with Congress discussing major crypto legislation, spearheaded by the Clarity Act.

Crypto Corner is a daily feature focused on digital currency regulation in Washington.

In Other News

Senator Thom Tillis criticized Senator Mike Lee for social media remarks on the SAVE America Act, highlighting internal Republican tensions.