The activity of the ATP:GTP 3'-pyrophosphotransferase (guanosine pentaphosphate synthetase I [GPSI]) from Streptomyces antibioticus is stimulated maximally by methanol at 20% (vol/vol) in assay mixtures. Although the enzyme is not activated by ribosomes, its activity is stimulated by tRNA (uncharged or charged) and by synthetic mRNA [e.g., poly(U)]. The level of stimulation is greater in the presence of tRNA and poly(U) together than with either RNA alone. Incubation of GPSI with low levels of trypsin also leads to activation of the enzyme. Analysis of the products of mild trypsin digestion revealed the presence of two intermediates whose M(r)s are identical to those of species produced by incubation of purified GPSI with crude extracts of S. antibioticus mycelium. GPSI can be activated by incubation with crude mycelial extracts, and this activation is partially inhibited by the inclusion of trypsin inhibitor in reaction mixtures.