President Donald Trump announced that the US government may pursue equity stakes in leading artificial intelligence companies, framing the initiative as a way to let ordinary Americans share in the profits of an industry growing at breakneck speed.

Trump made the remarks aboard Air Force One on June 5, describing the concept as a “partnership with the American public.” He also revealed plans to meet with AI executives, including OpenAI leadership, in the coming week to flesh out the idea.

From Intel to OpenAI: the government as investor

This isn’t the administration’s first foray into taking ownership positions in tech companies. The Trump administration previously acquired a 10% equity stake in Intel, a deal that reportedly saw Intel’s stock value double afterward.

Discussions about this specific initiative have apparently been underway for well over a year. Conversations between OpenAI CEO Sam Altman and the Trump administration trace back to early 2025.

OpenAI and Anthropic, two of the most valuable private AI companies on the planet, are both widely expected to pursue IPOs. If the government secures equity before those companies go public, taxpayers could theoretically benefit from the massive valuation jumps that tend to accompany high-profile tech listings.

What this actually looks like in practice

Since early 2025, officials within the administration have reportedly discussed direct government stakes in AI firms as part of a more proactive industrial policy.

The White House has scheduled meetings with AI executives for the week of June 8-14 to explore the specifics. The guest list reportedly includes leaders from OpenAI, though the full roster of companies involved hasn’t been publicly detailed.