OpenAI 5% equity proposal to US sovereign wealth fund, explained

OpenAI CEO Sam Altman proposed giving 5% of the company’s equity to a U.S. sovereign wealth fund, the Financial Times reported, citing two people familiar with the matter. The proposal envisions other AI companies making similar donations, though the discussions are preliminary and details have not been settled.

What exactly was proposed?

The immediate proposal is a donation of 5% of OpenAI’s equity to a U.S. sovereign wealth fund, with the idea that other AI companies would donate similar stakes. The Financial Times described the move as intended to “secure good relations with the administration and … address political blowback,” while the specifics of which companies, how the shares would be transferred, and the fund’s formal structure remain unclear.

The talks trace back to earlier public conversations. CNBC covered similar discussions in June and President Trump later said he had discussed “concepts where pieces could be given to the American public, where the American public essentially becomes a partner with the companies.” The reports make clear the current talks are preliminary and that any formal action would probably require congressional approval.

How does this relate to earlier OpenAI proposals and legislation?

OpenAI has previously proposed a public wealth fund in policy writing, and lawmakers have floated much larger interventions. In April OpenAI published a policy paper titled "Industrial Policy for the Intelligence Age" that proposed a public wealth fund able to invest directly in AI labs and deploying companies. That paper said, “Returns from the Fund could be distributed directly to citizens, allowing more people to participate directly in the upside of AI-driven growth, regardless of their starting wealth or access to capital.”

Separately, Senator Bernie Sanders proposed a more aggressive plan in June, the American AI Sovereign Wealth Fund Act, calling for a one-time 50% tax on AI company stock, with the collected shares going into a public wealth fund. The Sanders bill would apply to all “systemically important” AI companies, and it would allow firms that include AI as only part of their business to spin off non-AI portions to avoid taxation. That bill has yet to advance to committee.

Why it matters

A donation-based model shifts the political framing from taxation to voluntary corporate contribution, which could ease resistance from industry and speed implementation. It also signals that major AI firms are seeking a direct mechanism to address political concerns about concentrated ownership and potential economic disruption. If the proposal moved beyond talks it would raise immediate questions about governance, valuation, and whether Congress treats a donated stake differently from taxed stock.

The contrast with the Sanders bill is stark: one path asks firms to give 5% voluntarily, another would compel a one-time 50% transfer via tax. That gap highlights the range of policy responses currently on the table and the high stakes for companies, lawmakers, and citizens over how AI-generated value is allocated.

What to watch

Watch whether the conversations produce a formal proposal that seeks congressional approval and how lawmakers respond to a voluntary donation model versus a tax-based approach. Also watch the Sanders bill’s trajectory out of committee and any new details OpenAI or other companies publish about governance, valuation, and distribution mechanisms for a public AI wealth fund.