• Early 2025: Altman’s pitch to Trump
• 2025–2026: Quiet discussions become policy debate
• June 2026: Trump, Sanders, and critics stake out positions
• Competing visions and shared concerns

Trump Administration Discusses Taking Equity Stakes in AI Companies The Trump administration’s quiet talks about taking equity stakes in major AI firms have burst into public view, exposing a clash over who should own the financial upside of frontier technologies and how far government should go to get it.

§Early 2025: Altman’s pitch to Trump

OpenAI CEO Sam Altman first floated the idea of the US government owning part of leading AI companies in early 2025, pitching it directly to President Donald Trump as a way to share AI wealth with the public. Reporting later confirmed that Altman “talked to the Trump administration about taking a stake in OpenAI,” framing it as a way to bring economic benefits from AI to the public.

By April 2026, OpenAI had outlined a “sovereign-wealth-style” or “Public Wealth Fund” concept in policy documents: companies could donate equity to seed a fund whose proceeds “could be distributed directly to citizens, allowing more people to participate directly in the upside of AI-driven growth.”

§2025–2026: Quiet discussions become policy debate

According to reporting based on NOTUS, Altman continued to discuss the stake concept with senior Trump officials after the president’s second term began, focusing on firms “voluntarily ceding shares to the government rather than the government buying in.” The idea was to use returns for public purposes, “including a dividend paid to all American households,” a politically potent answer to polls showing most Americans fear AI will do more harm than good.

Meanwhile, some tech figures were gravitating toward Trump amid broader frustration with prior Democratic policy. In a viral exchange amplified by Elon Musk, Marc Andreessen claimed Biden officials had warned there was “no way they’ll let [AI companies] succeed,” prompting him to “endorse Donald Trump.”

§June 2026: Trump, Sanders, and critics stake out positions

In early June 2026, Trump publicly confirmed he had spoken with AI executives about deals “where the American people can benefit from the success of AI” and said he would meet companies at the White House to discuss a federal “partnership” that could send dividends to households. He described “concepts where pieces could be given to the American public, where the American public essentially becomes a partner with the companies.”

Reports indicated the administration was considering an equity stake in OpenAI specifically, with some of that equity potentially used to seed OpenAI’s proposed Public Wealth Fund. This fit Trump’s broader willingness to take government stakes in private firms, following a 10% federal share in chipmaker Intel the previous year.

On the same week, Senator Bernie Sanders went further, proposing an AI Sovereign Wealth Fund Act that would impose a one-time 50% tax on the stock of giants like OpenAI, Anthropic, and xAI, paid in shares rather than cash. Sanders argued this would “give the public a direct role in determining the future of this technology” and ensure “the trillions of dollars potentially generated by A.I. are used to improve the lives of all of us.” Altman’s version is voluntary, framed as a gift; Sanders’ is compulsory, seen by critics as a seizure.

§Competing visions and shared concerns

Analysts note that Trump’s stance appears to sit between the two poles: he has warmed publicly to public ownership without committing to either Altman’s donation model or Sanders’ tax-driven fund. Commentators describe current proposals as “plans to give Americans an equity stake in AI,” echoing long-running debates over who should capture the sector’s vast valuation—OpenAI alone has been valued around $850 billion.

The most persistent objection comes from regulatory advocates, who warn that any government shareholding could undercut independent oversight. Critics caution that making Washington both “shareholder and referee” risks “accelerat[ing] the corporate-government fusion we’re already sliding toward” and weakening the state’s willingness to restrain powerful AI firms when needed.

As discussions move from backroom pitches to public proposals, the core question remains unresolved: can the US give citizens a real equity stake in AI without entangling the government too deeply in the very companies it is supposed to regulate?

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