OpenAI CEO Sam Altman testified before the Senate Commerce Committee on May 8, 2025, in a hearing chaired by Senator Ted Cruz, voicing support for an AI safety bill and advocating for a “light-touch” regulatory framework. Altman described proposals requiring pre-deployment vetting of AI models as potentially “disastrous” for the industry, a shift from his 2023 stance when he called for stricter safety regulations, including licensing regimes and coordinated international safety efforts. AMD CEO Lisa Su also testified. Senator Cruz previewed legislation that would establish a “regulatory sandbox” for AI, aiming to prevent fragmentation by establishing a unified federal policy, as California alone has been revising its AI safety measures. After the formal hearing, Altman indicated he met with Cruz to discuss AI models and expressed support for the safety bill, though he did not share specifics about the meeting or the legislation’s details. Cryptocurrency and digital assets were conspicuously absent from the conversation. Investors should watch for the actual legislative text when Cruz introduces his bill, as the scope of a “regulatory sandbox” remains undefined.