OpenAI in Talks to Give U.S. Government Equity Stake

OpenAI explores unprecedented government partnership

OpenAI and the Trump administration are negotiating a potential equity stake for the U.S. government in the artificial intelligence company, according to details confirmed by CNBC on Friday. The discussions represent an unusual intersection of private AI development and public ownership.

CEO Sam Altman first presented the concept to the administration in 2025, and talks have continued for more than a year, according to a source familiar with the matter. The conversations advanced this week as Altman met with lawmakers and officials in Washington to discuss AI regulation and policy.

Under the framework being discussed, OpenAI could donate equity to seed what the company has called a "Public Wealth Fund" in its April policy proposal. That fund would invest in long-term assets and potentially distribute returns directly to American citizens, allowing them to share in AI's economic upside.

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

Why it matters

This potential arrangement would mark a significant shift in how the U.S. government engages with leading AI companies. Rather than purely regulatory oversight, a direct equity stake would give the government financial exposure to OpenAI's success or failure while potentially creating a model for public participation in AI's economic benefits. The move comes as OpenAI prepares for an IPO that could value the company at more than its current $850 billion private valuation.

Broader government investment strategy

The OpenAI discussions fit within a larger pattern of government stakes in technology companies. The Trump administration has already taken equity positions in Intel, IBM, and other companies involved in quantum computing and critical minerals during the president's second term. Trump signed an executive order in February directing the federal government to establish a sovereign wealth fund.

Sen. Bernie Sanders told CNBC he discussed the sovereign wealth fund concept with Altman during their Wednesday meeting, indicating the idea has gained traction across the political spectrum.

No final terms set

No official investment terms have been finalized, and the arrangement remains subject to change. OpenAI closed a record-breaking funding round in March co-led by MGX, which is backed by Abu Dhabi's sovereign wealth fund, demonstrating the company's appeal to institutional investors.

The timing of these discussions coincides with OpenAI's preparations for a potential initial public offering as soon as this year. The company has also shaped recent White House policy, with Altman publicly supporting Trump's Tuesday executive order asking AI companies to voluntarily provide government access to their models for up to 30 days before release.

Notus first reported the recent talks, with additional reporting by CNBC's Karen Sloan and Emily Wilkins.