Trump administration, OpenAI discussing possible government stake in the AI startup
The Trump administration is in discussions with OpenAI regarding a potential government stake in the AI startup. This follows an executive order aimed at establishing a sovereign wealth fund and accelerating AI adoption within federal agencies. OpenAI, valued at over $850 billion, is preparing for an initial public offering and has recently secured significant funding.
- ▪Trump signed an executive order in February to establish a sovereign wealth fund.
- ▪OpenAI is valued at more than $850 billion and is preparing for an initial public offering.
- ▪The Trump administration has previously invested in companies like Intel and IBM during his second term.
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Trump signed an executive order in February calling for the federal government to establish a sovereign wealth fund. The Trump administration has already taken stakes in Intel, International Business Machines and other quantum and critical mineral companies during the president's second term. Sen. Bernie Sanders, I-Vt., told CNBC that he and Altman discussed the concept of a sovereign wealth fund during their meeting on Wednesday. OpenAI is valued at more than $850 billion by private investors, and the company is gearing up for an initial public offering as soon as this year.
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