OpenAI has proposed giving the U.S. government a 5% stake in the company worth roughly $42.6 billion, based on its $852 billion valuation from a March 2026 funding round, according to a Financial Times report citing two people familiar with the discussions. CEO Sam Altman pitched the idea directly to President Trump, Commerce Secretary Howard Lutnick, and Treasury Secretary Scott Bessent, framing it as a way to democratize AI's economic upside and ensure Americans share in the industry's growth. The proposal follows a month of escalating government intervention in frontier AI releases, including a restricted rollout of OpenAI's GPT-5.6 and temporary export controls on Anthropic's top models.
OpenAI Proposes Sovereign Wealth Fund Model for Government Stake
The proposed structure would model a sovereign wealth vehicle similar to the Alaska Permanent Fund, a state-owned fund established in 1976 to invest surplus oil revenues and pay annual dividends to state residents. The Financial Times characterized the discussions as conceptual and early-stage, adding that any arrangement could require Congressional approval. The deal, if it materializes, would mark the first time Washington holds equity in a private AI company.
Altman Seeks Similar Stakes from Anthropic, Google, and Meta
Altman reportedly wants other major U.S. AI developers—Anthropic, Google, Meta—to cede a similar 5% to the government through the same vehicle. None of those companies have signaled any interest in joining as of yet. OpenAI has been more supportive than Anthropic when it comes to its deals with the U.S. government, signing partnerships where Anthropic refused.
Recent Government Interventions in AI Model Releases
OpenAI launched GPT-5.6 in limited form days earlier, after the White House's Office of the National Cyber Director asked for a restricted rollout while officials develop a testing framework for frontier AI. That was the second government intervention of the month—Anthropic spent most of June in lockdown on Mythos 5 and Fable 5 while under emergency export controls, after the Defense Department previously labeled the company a "supply chain risk," before access was restored this week.
Government Equity Stakes in Tech Companies Set Precedent
Equity has become the administration's preferred tool for managing tech relationships. The government took a 9.9% stake in Intel in August, paying $8.9 billion by converting CHIPS Act grants into shares at $20.47 each—a position now worth well over $50 billion. AMD and Nvidia agreed to hand over 15% of their China chip revenues in exchange for export licenses. Trump said in May he should have negotiated a larger stake in Intel.
Sanders Bill and Confidential IPO Filings Add Legislative Context
Senator Bernie Sanders, who met with Altman in recent weeks, is pushing a bill that would require the largest AI companies to surrender 50% of their equity to a public fund, with proceeds flowing to Americans as direct payments. Both OpenAI and Anthropic have filed confidentially for IPOs, meaning that any potential government stake agreed now would precede the ownership dilution that comes with a public float. For OpenAI—navigating a confidential IPO filing and a probe from a coalition of 42 state attorneys general—the deal may be worth it.
FAQ
What stake did OpenAI propose giving the U.S. government?
OpenAI proposed giving the U.S. government a 5% stake in the company worth roughly $42.6 billion, based on its $852 billion valuation from a March 2026 funding round, according to a Financial Times report.
Why did Sam Altman pitch this government stake proposal?
Altman framed the proposal as a way to democratize AI's economic upside and ensure Americans share in the industry's growth, pitching it directly to President Trump, Commerce Secretary Howard Lutnick, and Treasury Secretary Scott Bessent.
How does the government's Intel stake compare to the proposed OpenAI stake?
The government took a 9.9% stake in Intel in August, paying $8.9 billion by converting CHIPS Act grants into shares at $20.47 each—a position now worth well over $50 billion, compared to the proposed 5% OpenAI stake worth $42.6 billion.
