OpenAI Proposes Handing Over Up To 5% Stake To US Government To Seed 'Public Wealth Fund'

OpenAI has proposed handing the Trump administration an equity stake of between 1 and 5 percent in the company, as part of talks to seed a government-backed 'Public Wealth Fund' meant to give ordinary Americans a share in the gains from AI.

Equity donation on the table

FT reports that OpenAI chief executive Sam Altman and White House officials have been in discussions for more than a year over a possible government stake in the company, with talks continuing into June. Under the framework being discussed, OpenAI would donate equity to the federal government rather than sell it, avoiding a direct cash outlay from taxpayers. No final terms have been agreed, and the numbers remain subject to change.

A 'Public Wealth Fund' for citizens

The proposed stake would help seed what OpenAI has called a 'Public Wealth Fund,' an idea the company first outlined in an April policy paper titled 'Industrial Policy for the Intelligence Age.' The company said the fund could invest in 'diversified, long-term assets' spanning AI firms and companies deploying the technology, with returns distributed directly to citizens, including those with no existing stock holdings.

Trump likens it to a 'partnership'

President Donald Trump addressed the talks while speaking to reporters aboard Air Force One, describing a structure in which 'pieces could be given to the American public, where the American public essentially becomes a partner' with AI companies. He said he plans to meet AI industry executives to discuss the proposal further. The administration has already taken equity positions in companies including Intel, IBM, and several quantum and critical-minerals firms during Trump's second term.

Sanders pushes a far larger stake

The OpenAI proposal sits well below a rival plan from Senator Bernie Sanders, who has called for the government to take a 50 percent equity stake in leading AI companies, funded through a one-time stock tax on firms including OpenAI, Anthropic, and xAI. Sanders' bill would also grant the government voting shares and board representation, giving it power to block corporate decisions. Sanders and Altman discussed the sovereign wealth fund concept directly at a meeting in Washington.

Notably, Anthropic isn't part of these talks

Unlike OpenAI, Anthropic, which has also filed for an IPO, is reported not to be in discussions with the administration about donating equity to the government, a contrast that follows earlier tensions between the company and the White House over AI safety guardrails.