Trump Administration Reportedly In Talks For U.S. Government Stake In OpenAI

• OpenAI CEO Sam Altman initially pitched the equity proposal to the Trump administration in 2025 as part of a broader strategy to establish a U.S. sovereign wealth fund. 
• President Donald Trump confirmed the discussions on Friday, stating that the arrangement would essentially make the American public a partner in AI growth. 
• The high-stakes talks coincide with a new White House directive ordering national security agencies to accelerate the deployment of advanced, commercial AI models.

The Trump administration and OpenAI are engaged in discussions regarding a potential U.S. government financial stake in the artificial intelligence startup.

Under the potential framework, OpenAI could donate equity to the federal government to seed a "Public Wealth Fund," a concept the company introduced in a policy proposal last April, CNBC reported and confirmed on Friday. According to OpenAI, the fund would invest in long-term, diversified assets, allowing American citizens to share directly in the financial benefits of AI growth.

CNBC confirmed through a source familiar with the matter that the talks have been underway for more than a year. OpenAI CEO Sam Altman initially pitched the concept to the Trump administration in 2025, the source said.

Speaking with reporters aboard Air Force One on Friday, President Donald Trump acknowledged the ongoing discussions, according to CNBC.

"There are concepts where pieces could be given to the American public, where the American public essentially becomes a partner," Trump said. He added that he intends to hold meetings with various artificial intelligence companies "in the very short, very near future."

Trump’s Sovereign Wealth Fund Plans

The proposal aligns with a broader push by the administration to establish a national sovereign wealth fund, which Trump called for in an executive order signed in February. During his second term, the federal government has already taken financial stakes in other critical industries, including Intel, IBM, and various quantum computing and critical mineral firms.

Lawmakers are also being looped into the concept. Sen. Bernie Sanders, I-Vt., told CNBC that he and Altman discussed the sovereign wealth fund model during a meeting on Wednesday. Altman spent much of the week in Washington meeting with officials to discuss industry regulation and technological developments.

No official investment terms have been finalized, and the specifics of the arrangement remain subject to change, the source told CNBC.

OpenAI IPO Plans and Valuation

The high-stakes negotiations arrive as OpenAI, currently valued at more than $850 billion, prepares for a potential initial public offering as early as September this year. The company recently closed a historic funding round in March, co-led by the Abu Dhabi-backed sovereign wealth fund MGX.

OpenAI’s Q1 revenue hit $5.7 billion, but operating margins were negative 122%. OpenAI spent $2.22 for every dollar earned. To justify its $852 billion valuation, the company would need to generate $95 billion to $105 billion in free cash flow by 2030. Based on Q1 numbers, it is on track to lose between $10 billion and $30 billion that year instead, according to Pitchbook. 

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