OpenAI has proposed transferring a 5% stake to the US government as part of early discussions with the Trump administration, the Financial Times reported, citing two people familiar with the talks. No final agreement has been reached, and terms remain subject to change.
Sam Altman first pitched the idea directly to Trump in early 2025, framing it as a way to distribute AI’s economic benefits more broadly. Rather than a conventional ownership stake, OpenAI would donate equity to seed what it calls a “Public Wealth Fund,” an idea from its April 2026 policy paper that would “invest in diversified, long-term assets” and distribute returns directly to citizens.
Trump has acknowledged the talks without confirming a deal. “There are concepts where pieces could be given to the American public,” he told reporters aboard Air Force One in June.
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Sen. Bernie Sanders has proposed a far steeper alternative, the American AI Sovereign Wealth Fund Act, which would impose a one-time 50% stock tax on OpenAI, Anthropic, and xAI. Sanders has dismissed the administration’s approach as companies offering “5% of our profits back into the government” rather than genuine public ownership.
Read: Sanders Bill Would Force AI Companies to Hand 50% of Their Equity to New U.S. Sovereign Wealth Fund
Critics have flagged a structural conflict at the heart of any equity arrangement. Nat Purser of Public Knowledge warned it would make the government both a shareholder and regulator of the same company. Cato Institute fellow Jennifer Huddleston raised separate concerns about the government picking market winners.
Anthropic is not part of the talks. A source told NOTUS the company isn’t discussing government equity with the administration, amid a tense relationship between Anthropic and the White House over AI safety policy.
OpenAI was valued at $852 billion in its March 2026 funding round and is preparing for a possible public listing.
