President Trump is pushing for the American public to own shares in major AI companies. He plans to meet with AI executives soon to discuss this unusual “partnership.”

The idea is simple in pitch: give citizens equity stakes in AI firms like OpenAI, letting them share in the profits. Trump mentioned dividends as a potential benefit for Americans. The details, however, remain murky.

This concept isn’t new. OpenAI’s CEO, Sam Altman, floated a “Public Wealth Fund” last year. His plan involves voluntary equity donations from AI companies to create a fund that distributes returns to the public. Altman’s approach depends entirely on companies agreeing to participate.

Senator Bernie Sanders proposes a more aggressive alternative. His AI Sovereign Wealth Fund Act would tax 50% of AI companies’ stock, paid in shares to the government. This would give the government real control, including board seats and veto power over risky decisions.

Sanders’ plan is seen as a hostile seizure unlikely to pass. Altman’s voluntary model lacks teeth and could be too small to matter. Trump’s stance sits somewhere between—endorsing the idea but avoiding specifics.

Critics warn about conflicts of interest. If the government owns shares, it might hesitate to regulate AI strictly. The risk: profit motives could undermine safety and oversight. Such concerns gain weight as the White House asks companies to voluntarily submit AI models for government testing.

OpenAI, valued at over $850 billion, is restructuring for an IPO this year. It recently closed a record funding round led by investors including a sovereign wealth fund from Abu Dhabi. Other AI firms like Anthropic and xAI are also moving toward public offerings.

Each company’s structure varies, complicating any uniform equity transfer to the government. Sanders’ tax approach raises constitutional questions. Altman’s voluntary donation depends on goodwill. Neither mechanism offers a clear path forward.

The Trump administration has taken stakes in industries like semiconductors and quantum tech before, but those investments had clear industrial goals. Equity in AI firms aims instead to spread wealth directly to Americans, a novel and legally untested idea.

While the White House has signaled increased AI involvement, including executive orders on model testing and cybersecurity, it still balances fostering innovation against fears of losing the AI race to China.

Industry reactions vary. Anthropic denies talks about equity deals. OpenAI remains silent on participation. Trump expects all major AI companies at his upcoming meeting but hasn’t named any.

This debate marks a new phase in AI policy. What started as a speculative idea now reaches the highest levels of government and billion-dollar startups. The question remains: can a public stake in AI companies coexist with effective regulation and innovation?