By John Tamny
Publication Date: 2026-05-14 16:00:00
SAN FRANCISCO, CALIFORNIA – NOVEMBER 06: Microsoft CEO Satya Nadella (R) speaks as OpenAI CEO Sam Altman (L) looks on during the OpenAI DevDay event on November 06, 2023 in San Francisco, California. Altman delivered the keynote address at the first ever Open AI DevDay conference. (Photo by Justin Sullivan/Getty Images)
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Microsoft invested $1 billion in formerly fledgling OpenAI when “no one else was willing” to. That’s how CEO Satya Nadella described its 2019 capital committment.
Better yet, Microsoft didn’t stop there. In addition to funds, Microsoft provided OpenAI with crucial access to its data centers on which to build and train its AI models. It’s a beautiful story that economists and policymakers would do well to internalize.
To see why, contemplate what’s on the mind of economists as they divine ways to enhance economic growth. They invariably look to the Federal Reserve, a size employer of economists. Their minds are wandering. And not in a…
