President Donald Trump told reporters on Friday that his team is looking into the idea of the US government taking equity stakes in artificial intelligence companies. Trump expressed interest in the US government holding ownership stakes in leading AI developers, stating that he planned to discuss the concept of a partnership with AI companies.
According to Bloomberg, Trump said he planned to discuss the idea of a partnership with AI companies. The president suggested that such a "partnership" could ease voter concerns about the technology ahead of November's midterm elections, the Financial Times reported.
Newsmax reported that Trump told reporters his team will "look into" the idea of AI companies giving the American public a stake in their firms. He added that he planned to host a meeting with AI companies to discuss the proposal.
The concept would involve the US government obtaining equity positions in leading artificial intelligence developers. The discussions come as AI technology continues to advance rapidly and as voters have expressed concerns about the technology's impact ahead of the November midterm elections.
Trump framed the potential government ownership stakes as a partnership arrangement between the federal government and AI companies. The specifics of how such an equity stake would be structured or which AI companies would be involved were not detailed in the reports.
The president's comments mark a notable policy consideration regarding the federal government's role in the artificial intelligence sector. The proposal would represent a significant involvement of the US government in private AI development companies.
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