Government as AI Shareholder
President Donald Trump said Friday he has been speaking with AI executives about deals that would let the American people benefit from the success of AI, confirming a wave of reporting that the administration is actively pursuing an equity stake in OpenAI. The discussions mark a significant escalation in the relationship between the federal government and frontier AI companies, and they raise profound questions about how the public ought to share in the economic upside of a technology that could transform every sector of the economy.
According to multiple reports, the Trump administration has been exploring the idea of taking an ownership position in OpenAI specifically. Some of that equity could be used to seed a Public Wealth Fund that OpenAI itself proposed in a recent policy paper. The idea is that the American people would become partners in the AI boom rather than simply bystanders watching private fortunes accumulate.
This is not the first time the Trump administration has taken an equity position in a major company. Last year, the government took a 10 percent stake in Intel using already-awarded CHIPS Act grants. That precedent has opened the door for broader government ownership in strategically important technology companies, and AI is now squarely in the crosshairs.
What Trump Said
In comments reported by Bloomberg, Trump said: "I've been talking to AI executives about concepts where pieces could be given to the American public, where the American public essentially becomes a partner with the companies." The statement aligns with a broader push within the administration to ensure that the economic benefits of AI flow broadly rather than concentrating in a handful of private companies.
OpenAI CEO Sam Altman has reportedly been discussing the idea of a government stake in major AI companies since early 2025, according to Bloomberg reporting. Altman has long argued that AI development is so consequential that it should involve public participation and oversight. OpenAI's Public Wealth Fund proposal, published as a PDF policy paper, argues that proceeds from such a fund "could be distributed directly to citizens, allowing more people to participate directly in the upside of AI-driven growth, regardless of their starting wealth or access to capital."
Sanders Proposes a Different Path
Senator Bernie Sanders has put forward a competing vision: a one-time, 50 percent stock tax on companies like OpenAI, Anthropic, and xAI. Rather than a negotiated equity stake, Sanders would impose a direct tax in the form of stock. He argues this would "give the public a direct role in determining the future of this technology" and "guarantee that the trillions of dollars potentially generated by AI are used to improve the lives of all of us."
The Sanders proposal has drawn attention because it frames the debate in populist terms that resonate across the political spectrum. Even some conservatives have expressed sympathy with the idea that the public should capture some of the value created by AI companies that benefit from government-funded research, regulatory decisions, and infrastructure.
David Sacks Sounds a Warning
David Sacks, the former AI and crypto czar who now co-chairs the President's Council of Advisors on Science and Technology, offered a measured response. He said he understands why Sanders' idea resonates "including with many on the right," but warned that government equity stakes could "accelerate the corporate-government fusion we are already sliding toward." Sacks' caution reflects a broader concern among free-market advocates that government ownership in AI companies could lead to politicized decision-making, reduced innovation, and conflicts of interest.
Meanwhile, former Microsoft employee Dare Obasanjo offered a darker take: "The groundwork is already being laid for a government bailout of OpenAI." This view suggests that the equity stake conversation may be as much about risk-sharing as it is about profit-sharing.
What Happens Next
No final agreement has been reached, and multiple AI companies including OpenAI, Anthropic, and xAI are widely expected to go public this year, which would provide a natural valuation mechanism for any government stake. The coming months will reveal whether the administration pursues a negotiated equity stake, a legislative stock tax, or some hybrid approach.
For enterprise operators and technology leaders, the implications are significant. A government equity stake in OpenAI could influence everything from procurement decisions to regulatory priorities. Companies building AI strategies around OpenAI's models might find themselves operating in a world where the government is both a regulator and a shareholder, a dynamic that has historically created complex compliance and governance challenges.
We will continue to track this story as it develops. The intersection of AI governance and public finance is becoming one of the most consequential policy debates of the decade, and it demands close attention from every technology leader.
