There's a well-known decomposition of $L^2(G)$, a regular representation of compact complex group Lie $G$, called Peter-Weyl theorem.
Turns out for some reason I automatically think that there is a similar theorem that decomposes regular representation $k[G]$ of algebraic group $G$:
$$k[G] = \bigoplus_R \ R^* \otimes R$$
where sum goes over representations to $GL(n, k)$. For this to work I think we need $G$ to be a linear reductive group over, say, algebraically closed field $k$ of characteristic 0. Also, perhaps we need $\pi_1(G) = 1$.
But perhaps this is not true — the search hasn't given me a reference yet, but I wasn't able to provide a counterexample either.
Consider, for example, the multiplicative group $\mathbb G_m$. Then $k[\mathbb G_m] = k[x, x^{-1}]$ where each summand $k\cdot x^n$ is a separate representation of $\mathbb G_m$ into $\mathbb G_m = GL(1, k)$, specifically the one given by $a \mapsto a^n$. So the identity works.
So, is there such a theorem? What's a reference or a counterexample?
SL(2)
algebraic<--->
SU(2)
complex (for the purposes of this question at least). $\endgroup$