U.S. Vice President Vance Backs Sovereign Wealth Fund to Hold AI Firm Stakes; Musk Proposes Direct Cash Payments Instead

According to Odaily, U.S. Vice President JD Vance recently proposed establishing a U.S. sovereign wealth fund to hold stakes in leading AI companies. Vance argued against allowing large AI firms to become unchecked monopolies, advocating for state ownership and worker participation mechanisms to allow ordinary workers to directly share AI-driven economic gains.

Musk responded on X, stating that direct cash payments to citizens funded by the Treasury would be preferable to government ownership of enterprises. Musk argued that as AI and robotics accelerate supply growth beyond monetary supply increases, direct payments would not cause inflation but rather address future "deflation" concerns.