The Trump administration is working on a plan that could shift the competitive landscape between two of the biggest names in AI: OpenAI and Anthropic. The proposal, which centers on AI ownership structures, appears to favor Anthropic’s approach as OpenAI races toward a trillion-dollar IPO.
What’s the Plan?
Details are still emerging, but the core of the proposal involves how AI companies structure their ownership and governance. OpenAI has been engaged in complex equity talks as it prepares for what could be one of the largest IPOs in tech history. The company’s unusual structure — a capped-profit model overseen by a nonprofit board — has been a point of contention for investors and regulators alike.
Anthropic, meanwhile, has taken a different path. The company was founded by former OpenAI researchers who left over safety concerns, and it’s structured as a public benefit corporation. That governance model appears to align more closely with what the Trump administration’s plan is pushing for.
Why Anthropic Stands to Benefit
If the plan favors public benefit structures or imposes conditions on how AI companies govern themselves, Anthropic is already positioned to comply. OpenAI, on the other hand, would need to navigate its transition from a hybrid nonprofit-profit structure to a more conventional corporate setup — all while trying to maintain its valuation narrative ahead of an IPO.
That’s not a small thing. OpenAI is reportedly targeting a valuation in the hundreds of billions. Any regulatory friction or governance requirements that slow down its IPO timeline could have real financial consequences, especially in a market that’s already showing signs of fatigue with mega-tech offerings.
The Bigger Stakes
This isn’t just about two companies competing for AI dominance. The Trump administration’s approach to AI governance will set the tone for how the entire industry operates. If ownership and governance requirements become a condition of operating at scale, it could favor smaller, mission-driven companies over the well-funded giants.
It also raises questions about whether the US government is trying to steer AI development toward specific outcomes — safety, transparency, public benefit — or simply creating regulatory hurdles that incumbents and newcomers will navigate differently.
What Happens Next
Watch for the full details of the ownership plan to emerge in the coming weeks. OpenAI’s IPO timeline will be the clearest indicator of how much this matters — if the offering gets delayed or the valuation takes a hit, you’ll know the plan is having real impact. Anthropic, for its part, will likely use this as a fundraising narrative: “We built it right from the start.”
