The US government is exploring entry into the AI "gold rush" as a shareholder. OpenAI CEO Sam Altman has been in talks with Trump administration officials, and a proposal has emerged for the government to receive an equity stake of roughly 5% in OpenAI. The question is what happens when a government is both regulator and shareholder.
March 2026 · AI Policy
When Washington Wants a Seat at the AI Table
The Trump administration is in early talks to take a roughly 5% equity stake in OpenAI and other AI leaders — raising a sharp question: what happens when the government is both regulator and shareholder?
$852B
OpenAI post-money valuation (March 2026)
5%
Proposed voluntary equity stake per firm
$42.6B
Value of 5% of OpenAI alone
How big a slice? OpenAI's $852B, drawn to scale
Each block = ~$42.6B. The proposed government stake is a single block of the twenty.
5%
Government stake
100%
Total valuation
The Mechanism
A "Public Wealth Fund" — modeled on Alaska's Permanent Fund
AI firms
contribute ~5% in shares voluntarily
→
Public Wealth Fund
holds stakes as long-term assets
→
Americans
receive household dividends
Floated beyond OpenAI to Google, Meta and Anthropic — though Anthropic is not part of the talks.
The Case For
Trump calls Americans becoming "partners" in companies interesting . Cited precedent: the government's Intel stake let a rising share price benefit taxpayers directly. Framed as a way to ease public concern amid AI-driven job fears.
The Case Against
A regulator that owns shares may hesitate to impose safety rules that hurt firm value. Critics warn of regulatory capture and market-distorting "golden shares." Sen. Sanders says 5% is too little and is preparing a bill for 50%.
55%
of Americans believe AI does more harm than good in daily life
Still early days
Talks remain "preliminary." Legal mechanisms — including whether a share contribution is even lawful — are undetermined, leaving the outlook fluid.
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