OpenAI is in early-stage talks to hand a 5% stake in the ChatGPT developer to the US government, a move that has triggered fears of a “governance overhang” ahead of its planned public listing. The proposal, reported by the Financial Times, is part of a broader effort by artificial intelligence companies to smooth relations with Donald Trump’s administration.
The OpenAI chief executive, Sam Altman, has argued that giving the US public a financial stake in the company is the best way to share the benefits of AI. The scheme would also involve other leading US AI firms – including Anthropic, Google and Meta – giving a similar stake to the government, according to the report, although it remains unclear whether they would agree.
“OpenAI in early talks to give US government 5% stake, raising governance fears ahead of its IPO.”
Altman has been in talks about public ownership with Trump, as well as commerce secretary Howard Lutnick. The discussions are said to be “conceptual” and at an early stage; any deal could require an act of Congress to implement. Altman and other OpenAI bosses have suggested that each of the biggest AI developers should give 5% of their equity to an investment vehicle such as the Alaska Permanent Fund, a sovereign fund that invests US oil wealth and pays dividends to the state.
The proposal comes as OpenAI and rival Anthropic prepare to list on the US stock market, in moves that investors believe could value both companies at more than $1tn (£751bn). The prospect of a government stake has raised concerns among investors about “governance overhang” – the risk that political influence could complicate decision-making and depress valuations.
Both companies have previously floated the idea of a public or sovereign wealth fund in policy papers. In April, OpenAI said a “public wealth fund” could provide “every citizen – including those not invested in financial markets – with a stake in AI-driven economic growth”.
Whether the Trump administration would ultimately back the plan – and whether it would soothe or sour investor sentiment ahead of OpenAI’s IPO – remains an open question.