Trump Administration and OpenAI: Talks on State Stakes in AI Companies

Trump announced that he would meet with the heads of the leading industry representatives in Washington next week to discuss a formal partnership between the executive branch and the tech industry. According to insider reports, Sam Altman, the head of industry leader OpenAI, has already been in negotiations with the Trump administration over such a model for more than a year. According to these reports, the CEO proposed the concept of a state stake in 2025.

At its core, his plan envisions OpenAI transferring company shares to the state. These stocks are to serve as a foundation for a public-law wealth fund. OpenAI itself published a corresponding position paper outlining a "Public Wealth Fund." Proceeds are to be distributed to citizens.

Altman's Model: Shares for a Public Wealth Fund

Trump confirmed the approach on Friday aboard Air Force One: "There are promising concepts in which parts of the immense wealth generated by artificial intelligence could be returned to the American public. In that way, the population would essentially become a partner of the companies." He said he had already spoken with all relevant industry players about it. Trump hopes that direct financial participation by voters will also give him and the technology greater public support.

In principle, the idea enjoys bipartisan support. In addition to representatives of the tech elite such as Anthropic and xAI founder Elon Musk, left-leaning Senator Bernie Sanders has also introduced a bill that provides for transferring 50 percent of the shares of leading AI firms into a public wealth fund. OpenAI and competitor Anthropic are facing potential IPOs at which the companies could each be valued at well over one trillion US dollars. OpenAI is already valued by private investors at more than 850 billion dollars and is preparing for an IPO.

Criticism: Warning of a Merger of State and Corporations

David Sacks, his former special AI envoy, warns of a dangerous merger of state and large corporations. "Conservatives should, in his view, particularly fear a state-controlled AI. Such a system would possess totalitarian power over information, human behavior, and societal decision-making processes." Critics also note: conflicts of interest threaten when the state is supposed to regulate an industry in which it holds a major shareholder stake.

Just a few months ago, Trump signed a decree to establish a state sovereignty fund. In his second term, the state has taken strategic stakes in tech corporations such as Intel and IBM. In a flanking move, the Republican signed a directive to the security agencies to accelerate the introduction of advanced AI models. Operators are to present such systems to the state in advance. According to reports, Altman also met with Senator Bernie Sanders.

Risks and Public Resistance

Skepticism in the country is high, as many fear deep disruptions to the labor market and existential job losses from the rapid pace of AI development. Resistance is growing to the construction of ever more data centers for the data-hungry AI. At the same time, a public wealth fund could help spread the profits of AI corporations broadly and cushion social anxieties about the technology.

However, a state stake would also expose the public to the volatility of the AI market, which continues to be characterized by extremely high company valuations and absent profits. The new regulation also requires AI firms to voluntarily make new models available to the government 30 days before release. The talks between Washington and OpenAI are ongoing; a formal decision is pending.