The Trump administration is in active talks with OpenAI over a proposal that would give the federal government an equity stake in the artificial intelligence company, seeding a new public wealth fund for American citizens. The discussions, confirmed by a source familiar with the matter and acknowledged by President Donald Trump on Friday, could reshape how the U.S. government participates in strategic technology industries.
Under the preliminary framework, OpenAI would donate equity to the U.S. government to launch a "Public Wealth Fund." The concept, which OpenAI first outlined in a policy document last April, would invest in diversified, long-term assets and allow citizens to share directly in the financial returns of AI growth. The source told CNBC that talks have been ongoing for more than a year.
The administration's broader push for a sovereign wealth fund
The OpenAI proposal aligns with an executive order President Trump signed in February directing the creation of a national sovereign wealth fund. The administration has already taken financial stakes in other critical sectors, including Intel, IBM, and various quantum computing and critical mineral firms. Lawmakers are being drawn into the concept - Sen. Bernie Sanders told CNBC that he and OpenAI CEO Sam Altman discussed the sovereign wealth fund model in a meeting on Wednesday.
Speaking with reporters aboard Air Force One, Trump said, "There are concepts where pieces could be given to the American public, where the American public essentially becomes a partner." He added that meetings with artificial intelligence companies are planned "in the very short, very near future."
OpenAI's financial position and IPO preparations
The high-stakes negotiations come as OpenAI, currently valued at more than $850 billion, prepares for a potential initial public offering as early as September. The company closed a historic funding round in March co-led by the Abu Dhabi-backed sovereign wealth fund MGX. For the first quarter, OpenAI reported $5.7 billion in revenue but negative 122% operating margins, spending $2.22 for every dollar earned, according to data cited by CNBC.
To justify its $852 billion valuation, OpenAI would need to generate between $95 billion and $105 billion in free cash flow by 2030. Based on first-quarter numbers, Pitchbook projects the company is instead on track to lose $10 billion to $30 billion that year. No official investment terms have been finalized, and the structure could still change.
Why this matters for government professionals
For federal employees and policymakers, the discussions signal a shift toward direct government equity in commercial AI infrastructure - a model that could create new oversight, compliance, and strategic planning responsibilities. As sovereign wealth mechanisms and AI governance converge, familiarity with both the technology and its policy implications will become essential. Professionals working in AI for Government contexts may need to prepare for accelerated adoption mandates, such as the White House directive ordering national security agencies to deploy advanced commercial models more quickly. A structured AI Learning Path for Policy Makers can help bridge the gap between policy analysis and the operational realities of enterprise AI.
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