An investment fund operated by Trump supporters has been marketing conference sponsorships to tech companies, claiming it as the "First U.S. Treasury Department AI Summit" and stating that Treasury Secretary Bessent would announce the department's AI strategy at the event.

On October 13, according to media reports, 1789 Capital, an investment fund run by prominent Trump supporters, has been pitching tech companies in recent weeks on an event they called the "First U.S. Treasury Department AI Summit." The fund claimed that U.S. Treasury Secretary Bessent would unveil the Treasury Department's AI strategy at the event and offered paying sponsors a series of perks including VIP cocktail receptions and dinners.

However, after media inquiries, event organizers quickly adjusted their messaging. They announced a new name for the event – the "American Prosperity AI Summit" – removing the "Treasury Department" reference. A Treasury Department spokesperson clearly stated that the agency had not approved the previously circulated promotional materials.

Norm Eisen, an ethics lawyer with the nonprofit Democracy Defenders Fund, expressed shock at the development. He noted:

"The official endorsement of the U.S. Treasury Department was being used for an event that would apparently benefit external actors personally."

He argued that while government officials often appear as speakers at corporate-sponsored conferences, it is highly unusual for organizers to directly characterize an event as a government activity while seeking sponsorships.

The Treasury Department confirmed that Bessent was invited and planned to attend the event because he is "focused on the economics of AI and how it can serve American businesses and workers." However, a Treasury official added on Monday that he might cancel his attendance if the government shutdown continues.

**Sponsors Pay for Influence**

The event, scheduled for October 21, offers sponsors a clear "pay-for-influence" pathway.

The event has reportedly secured sponsorship from at least a dozen companies. Other speakers include senior economic policy officials from the State Department, senior White House AI policy advisors, and personnel from data analytics company Palantir.

According to presentations sent to potential sponsors, sponsoring companies would not only receive event tickets but also access to VIP rooms, cocktail receptions, and brand exposure opportunities such as "livestream banner logos."

The highest tier "Presidential Sponsor" level includes 25 event tickets, 2 VIP dinner seats, 8 cocktail reception tickets, 6 VIP room slots, and "large logo projection and large credential logos." The promotional materials even mentioned that this sponsorship level could receive a "sponsored snack." Emails to potential sponsors promised:

"The event provides high-visibility positioning designed to maximize brand impact."

Some company representatives who received the promotional materials reportedly expressed interest in sponsoring the event, viewing it as a rare opportunity to access senior government officials and influence government AI policy direction.

In recent years, as AI technology's importance has grown increasingly prominent, related companies have invested massive amounts in Washington, frequently hosting various events and summits to strengthen their lobbying efforts.

**Trump Allies' Business Empire: From AI Funds to Private Clubs**

The driving force behind this event is 1789 Capital, an investment fund with close ties to Trump's circle.

According to sources cited in media reports, one of the fund's founders, Christopher Buskirk, is also a donor to Vice President Vance. Another fund leader, Omeed Malik, is a major donor and close friend of the president's son, Donald Trump Jr.

Donald Trump Jr. is also reportedly a partner at 1789 Capital but is not involved in this particular event.

1789 Capital's investors have also created a club called "Executive Branch" in Washington, where business leaders and donors pay six figures for membership in exchange for opportunities to interact with senior officials such as Cabinet secretaries. The club has faced criticism for its profit-making nature and close relationship with the presidential family.

Additionally, 1789 Capital is actively expanding in the AI sector, announcing an investment in AI company Cerebras last month and currently investing in Nvidia-backed startup Reflection AI.

**A Repeat of Trump's Crypto Fundraising Dinner?**

The operational methods of this AI summit bear striking similarities to the controversial "Trump Coin Night" dinner held not long ago, which was seen as a typical case of directly monetizing political influence.

As previously reported, at that May dinner, investors purchased over $148 million worth of "Trump Coins" to gain entry. TRON founder Justin Sun, as the largest holder, not only sat at the same table as Trump but also received a valuable gold watch as a gift.

Outside the venue, nearly a hundred protesters gathered with signs reading "Stop Crypto Corruption" and similar messages. Oregon Democratic Senator Jeff Merkley even appeared at the scene, calling the dinner "the Mount Everest of corruption."

Government oversight organizations believe the dinner may have violated federal prohibitions on soliciting gifts. The White House responded that the president attended "in a private capacity," with his assets managed by a trust overseen by his children.

However, for investors, whether it's the high-profile crypto dinner or this seemingly professional AI summit, the core logic appears unchanged – within a framework tightly bound to the Trump brand, money is being used to purchase access to centers of power.