Trump’s AI stake plan rattles Nvidia, Oracle, Microsoft

President Trump on June 5 said the government is “exploring a plan where AI companies give the American public a direct ownership stake.” Administration officials said they will meet AI executives this week to discuss the idea. The administration already holds stakes in Intel and several rare-earth and quantum firms.

Market data show different reactions across three major AI-related stocks after the remarks. Nvidia recorded institutional outflows and more options hedging. Chaikin Money Flow, a measure of institutional buying and selling, fell to about -0.16 from positive readings in spring. The options put-call open interest ratio rose to roughly 0.84 from below 0.80 in May, indicating more downside protection even though call open interest still exceeded puts. Nvidia traded near $208. Technical levels noted by traders include resistance near $221 and $232 and support near $204 and $194.

Oracle registered net inflows after the proposal. The company is a core partner on the federal Stargate AI infrastructure project and sells contracted compute capacity rather than chips. Chaikin Money Flow remained net positive and peaked near 0.39 during a recent rally. Options volume shifted toward calls after June 5, with the volume put-call ratio dropping to about 0.39 from 0.76 earlier in the week, while open-interest puts still slightly exceeded calls at about 0.95. Oracle traded near $214. The company is due to report fiscal 2026 fourth-quarter results on June 10; technical observers note resistance around $250 and support near $178.

Microsoft, OpenAI’s largest commercial backer, produced a limited market response. Institutional flows were essentially flat, with Chaikin Money Flow around 0.03 and down from a May peak. Options activity showed calls leading but without strong conviction, with a volume put-call ratio near 0.67 and an open-interest ratio around 0.47. Microsoft traded near $415. Technical markers cited by traders include $427 as a short-term upside level and $397 as a downside trigger for a deeper retracement.

Officials and analysts have outlined possible effects of a government ownership plan, saying it could increase contracted demand for AI compute while also creating potential equity issuance, price limits or contractual terms that would change commercial arrangements. Investors cited upcoming corporate results and further meetings between administration officials and AI executives as near-term events that could clarify how any public-stake plan would be structured. Oracle’s June 10 earnings and those discussions were identified as immediate catalysts for market reassessment.