OpenAI proposes 5% government equity stake worth $43 billion

OpenAI is offering the U.S. government a 5% equity stake—approximately $43 billion at its $852 billion valuation—through a donation of shares rather than a cash purchase, a move that has drawn support from President Trump and calls for even larger stakes from Senator Bernie Sanders [2].

The proposal and its political backdrop

President Donald Trump announced that the federal government could take direct equity stakes in leading AI firms, naming OpenAI, Anthropic and xAI [1]. The specific framework under discussion would have OpenAI donate shares to seed a “Public Wealth Fund,” avoiding any taxpayer cash outlay. The company’s internal pitch to the administration dates back to early 2025 and was revisited this week as part of broader AI‑regulation talks [1].

Senator Bernie Sanders has taken the idea further, calling for a 50% government equity stake in the same three companies plus a 50% tax on their stock, effectively proposing partial nationalization [1]. The convergence of a Republican president and a democratic‑socialist senator on government ownership of AI highlights the unusual bipartisan interest in the issue.

Industry reaction and precedent

Anthropic, one of the three firms named, is not participating in any equity talks, according to a source familiar with the matter [1]. The company’s refusal follows a February 2026 directive from the Trump administration that halted federal use of Anthropic’s technology after the firm balked at Pentagon safety demands. This underscores that the proposed stakes are voluntary and that companies can opt out, albeit at the risk of strained regulator relations.

The OpenAI proposal differs from recent government equity deals in other sectors. The Trump administration has taken sizable stakes in Intel (≈ 10%) and MP Materials (≈ 15%) without a cash outlay, framing those holdings as permanent strategic assets rather than rescue measures [2]. Unlike those cases, OpenAI’s stake would be offered by the company itself, and Altman has suggested that every U.S. AI developer—including rivals at Google, Meta, and Anthropic—contribute a similar 5% share to a fund modeled on Alaska’s oil‑wealth dividend program [2].

Arguments for and against government ownership

Proponents argue that publicly funded research and federal compute support justify a public share of AI’s upside, and that a government stake could provide leverage over how powerful models are deployed [1]. Critics warn that owning equity in firms the government also regulates creates a conflict of interest and could distort competition by favoring incumbents [1]. The debate therefore pivots on balancing potential taxpayer returns against risks to market dynamics and regulatory independence.

What to watch

• Legislative progress – Whether Congress will enact a statute to create the “Public Wealth Fund” and formalize the equity donation.
• Anthropic’s response – Any shift in Anthropic’s stance or a formal request for government participation.
• Sanders’ proposal – Introduction of legislation or a formal request for a 50% stake and tax on AI firms.

OpenAI’s self‑initiated equity offer could set a precedent for how Washington engages with strategic private‑sector technology, but the ultimate shape of any policy will depend on congressional action and the willingness of other AI firms to join the fund.