OpenAI has proposed giving the U.S. government a 5% stake in the company worth approximately $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. OpenAI 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 benefits and ensure Americans share in the industry's growth. The talks follow a month of escalating government intervention in frontier AI releases, including a restricted rollout of OpenAI's GPT-5.6 model and temporary export controls on Anthropic's advanced systems.
Altman Pitches Sovereign Wealth Model to Trump Administration
Sam Altman raised the 5% stake proposal directly with President Trump, Commerce Secretary Howard Lutnick, and Treasury Secretary Scott Bessent, according to the Financial Times. 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.
OpenAI Proposes Industry-Wide 5% Government Stake
Altman's proposal extends beyond OpenAI to other major U.S. AI developers. He reportedly wants Anthropic, Google, and Meta to cede a similar 5% stake 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 deals with the U.S. government, signing partnerships where Anthropic refused.
White House Restricts GPT-5.6 Rollout Amid Testing Framework Development
OpenAI launched GPT-5.6 in limited form days before the Financial Times report, 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 marked 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.
Intel Stake Provides $50 Billion Precedent for Government Equity Deals
The government took a 9.9% stake in Intel last 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. Equity has become the administration's preferred tool for managing tech relationships.
Bernie Sanders Proposes 50% Equity Requirement for Largest AI Companies
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. The deal, if it materializes, would mark the first time Washington holds equity in a private AI company.
FAQ
What stake did OpenAI propose giving the U.S. government?
OpenAI proposed giving the U.S. government a 5% stake worth approximately $42.6 billion, based on the company's $852 billion valuation from a March 2026 funding round, according to a Financial Times report citing two people familiar with the discussions.
Why did the White House restrict OpenAI's GPT-5.6 rollout?
The White House's Office of the National Cyber Director asked OpenAI for a restricted rollout of GPT-5.6 while officials develop a testing framework for frontier AI. OpenAI launched the model in limited form following this request.
What precedent exists for government equity stakes in tech companies?
The U.S. government took a 9.9% stake in Intel last August by converting $8.9 billion in CHIPS Act grants into shares at $20.47 each—a position now worth well over $50 billion. AMD and Nvidia also agreed to hand over 15% of their China chip revenues in exchange for export licenses.
