The Spillover

Washington Considers a Stake in OpenAI + Altman’s Gambit + America, Inc.

July 13, 2026·51 min
Episode Description from the Publisher

On this episode of The Spillover, Rebecca Patterson and Sebastian Mallaby, joined by CFR expert Jonathan Hillman, examine the U.S. government's rapidly growing portfolio of equity stakes in private companies, including a potential stake in OpenAI. Hosts:   Rebecca Patterson, Senior Fellow, Council on Foreign Relations (CFR)   Sebastian Mallaby, Paul A. Volcker Senior Fellow for International Economics, Council on Foreign Relations (CFR)   Guest:   Jonathan E. Hillman, Senior Fellow for Geoeconomics, Council on Foreign Relations (CFR)   Mentioned on the Episode:   Jonathan E. Hillman, “Washington’s Growing Portfolio: Tracking U.S. Government Investments,” CFR.org   Want to keep up with The Spillover? Sign up to receive an email alert when new episodes are released.   The Spillover is a production of the Council on Foreign Relations. The opinions expressed on the show are solely those of the hosts and guests, not of the Council, which takes no institutional positions on matters of policy.

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