Washington Explores Equity in AI Developer OpenAI

Sam Altman, CEO of OpenAI, has proposed a plan aimed to appeal to both Washington’s populists and plutocrats. He suggests giving the U.S. government a 5 percent stake in OpenAI. This move could be valued at around $42.6 billion based on the company’s recent $852 billion valuation.

The idea was put forward in discussions with notable figures such as President Donald Trump, Commerce Secretary Howard Lutnick, and Treasury Secretary Scott Bessent, as reported by the Financial Times. Though the discussions are preliminary, this approach might require congressional approval.

Altman’s proposal extends beyond OpenAI. He urges major AI companies like Google, Meta, and Anthropic to contribute similar stakes to a shared entity, modeled after the Alaska Permanent Fund, which dispenses annual dividends from the state’s oil revenue. However, none of these companies have agreed so far.

Government as Shareholder

This proposal comes at a time when the government owning shares in private companies is becoming normalized. For instance, CHIPS Act grants resulted in a 9.9 percent stake in Intel, and a 15 percent cut from China chip sales by Nvidia and AMD was secured for export licenses.

In June, Trump discussed AI wealth-sharing, suggesting it could be a partnership enriching the American public. Vice President JD Vance mentioned that Trump favors equity over direct public payouts.

Bernie Sanders’ Proposal

Progressive Senator Bernie Sanders advocates for an even more aggressive move. He proposes a one-time 50 percent tax on AI company stock to create a sovereign wealth fund, as detailed in his American AI Sovereign Wealth Fund Act. According to Sanders, AI wealth should benefit humanity as it is built on collective knowledge.

This convergence of ideas from a socialist senator and a Republican administration reflects a shift in the industry’s landscape.

Nationalism and Equity

The administration appears to emphasize nationalism and equity values. OpenAI delayed releasing its GPT-5.6 model upon government request. Furthermore, OpenAI faces scrutiny from state attorneys general and is contemplating an IPO needing Washington’s endorsement.

Altman’s proposal serves both regulatory and political purposes. A public stake aligns with the America First policy, focusing on American-made, American-led, and American-owned technology. It presents AI supremacy over China while offering dividends to mitigate public concern over AI-linked issues.

Critics and Challenges

Not everyone sees this approach as solid policy. Valence Howden from Info-Tech Research Group views it as problematic due to potential conflicts of interest and regulatory reluctance.

Some industry figures, including White House AI czar David Sacks, caution against government equity stakes, fearing corporate-government fusion akin to China’s social credit system.

Skeptics view Altman’s proposal as a political gesture more than a true wealth-sharing mechanism, particularly due to the passive nature of the stake offered.

Currently, Altman’s competitors haven’t agreed, Congress hasn’t been approached, and implementation remains unclear. However, there are paths forward if framed as essential to national security, either by using existing legal means or through congressional action.

The political strategy aligns with the administration’s previous moves in companies like Intel, Nvidia, and AMD, offering a stake in the AI sector under the banner of “America First.”