Sanders Pushes AI Wealth Fund for Firms Above $200 Million, Demanding Public Control of Half
Updated
Updated · WIRED · Jun 30
Sanders Pushes AI Wealth Fund for Firms Above $200 Million, Demanding Public Control of Half
3 articles · Updated · WIRED · Jun 30
Summary
Any AI company with more than $200 million in revenue would pay into Sanders’ proposed sovereign wealth fund, while the public would control half of industry boards under his plan.
Sanders said he launched the proposal and a data-center moratorium push because Congress has produced “zero” significant AI legislation despite risks to jobs, privacy, children and power bills.
He argued AI wealth should be shared because the technology is built on public knowledge and warned driverless systems alone could displace 6 million to 8 million truck, taxi and ride-hail workers.
Sam Altman was “not enthusiastic” about the fund, Sanders said, adding tech firms may offer limited payouts to ease public backlash while resisting any loss of power.
The Vermont senator tied AI regulation to a broader fight against oligarchic influence in Washington, saying grassroots opposition to data centers shows public anger could still force action.
Can America regulate AI's immense power without sacrificing its global technological edge?
As AI's energy thirst grows, can communities afford the price of hosting its massive data centers?
With teens turning to AI for emotional support, are we outsourcing mental health to unregulated chatbots?
Public Ownership in the Age of AI: The $7 Trillion American Sovereign Wealth Fund Proposal Explained
Overview
Senator Bernie Sanders has proposed The American AI Sovereign Wealth Fund Act to address the economic disruption caused by rapid advances in artificial intelligence. The Act would require large AI companies to transfer a significant portion of their stock to a public fund, aiming to give the government a substantial stake in the AI sector. This fund would be governed with public oversight and distribute annual dividends directly to American citizens. The proposal reflects growing interest in public ownership of AI technology as a way to ensure that the benefits of AI are shared broadly across society.