Trump Administration and OpenAI in Talks Over Possible Government Equity Stake

The Trump administration and OpenAI are in active discussions about a possible U.S. government stake in the artificial intelligence company, with talks that have been ongoing for more than a year, according to a source familiar with the matter.

OpenAI CEO Sam Altman first shared the concept with the Trump administration in 2025, the person said, speaking on the condition of anonymity because the details remain confidential. The discussions continued this week as Altman traveled to Washington, D.C., to meet with lawmakers and officials on topics including AI regulation and the latest developments in the technology.

Under one framework being considered, OpenAI could donate equity to the federal government to help seed what the company has called a "Public Wealth Fund" — a vehicle it outlined in an April policy proposal. According to that proposal, the fund would "invest in diversified, long-term assets" and allow citizens to participate in the "upside" of AI growth, potentially by receiving the fund's returns directly.

No official investment terms have been finalized, and the details remain subject to change, the source said.

President Donald Trump addressed the talks while speaking with reporters aboard Air Force One on Friday. "There are concepts where pieces could be given to the American public, where the American public essentially becomes a partner," he said. Trump added that he is meeting with AI companies "in the very short, very near future."

Sen. Bernie Sanders, I-Vt., told CNBC that he and Altman discussed the concept of a sovereign wealth fund during a meeting on Wednesday.

The talks come against a broader policy backdrop. Trump signed an executive order in February directing the federal government to establish a sovereign wealth fund. The administration has already taken stakes in Intel, International Business Machines, and other quantum and critical mineral companies during Trump's second term.

OpenAI is currently valued at more than $850 billion by private investors. The company closed a record funding round in March, co-led by MGX — which is backed by Abu Dhabi's sovereign wealth fund — and is preparing for an initial public offering as soon as this year.

The week also saw other AI policy movement. On Tuesday, Trump signed an executive order asking AI companies to voluntarily provide the government access to their models for up to 30 days before release. The order is thin on specific details, but executives from leading AI companies, including Altman, voiced support for it publicly.

"The U.S. should lead on AI by continuing to develop the very best models, making sure they're safe, and getting cyber tools into the hands of trusted defenders," Altman wrote on X. "The new EO gets the balance right."

The potential equity arrangement would mark one of the more direct financial entanglements between a leading AI company and the federal government, reinforcing the central role that firms like OpenAI have played in shaping White House policy on the technology. Whether and how the two sides ultimately structure a deal will be closely watched, particularly as OpenAI's IPO timeline comes into sharper focus.

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