Sen. Bernie Sanders (I-Vt.) called for expanded public ownership of artificial intelligence-driven wealth, arguing that the rapidly growing sector is being shaped by a small group of powerful tech elites.
AI Sovereign Wealth Fund Proposal Announced
In a post on X, Sanders warned that the future of AI should not be controlled exclusively by wealthy industry leaders.
"We can no longer sit back and allow oligarchs decide the future of AI with zero input from the American people," he wrote.
He added, "That’s why I introduced the American AI Sovereign Wealth Fund Act — to give the public a direct ownership stake."
Sanders AI Wealth Fund Plan
Last week, Sanders introduced legislation that would require major AI companies to transfer 50% of their stock value into a federally managed sovereign wealth fund.
The proposed "American AI Sovereign Wealth Fund Act" was estimated by his office to potentially grow into a $7 trillion fund.
Sanders said the plan aimed to ensure that the financial gains from artificial intelligence were shared broadly among the public rather than concentrated in the hands of major tech firms and wealthy investors.
AI Policy Debate
Earlier, Box Inc. (NYSE:BOX) CEO Aaron Levie warned that uncertainty in AI governance could push countries toward open-weight models and reduce reliance on U.S.-controlled systems, arguing this shift increases incentives for sovereign AI development.
Sen. Mark Kelly (D-Ariz.) said AI is rapidly transforming the U.S. economy and workforce, urging policies that ensure workers benefit from its growth under his "AI for America" plan.
Sen. Adam Schiff (D-Calif.) said public skepticism about Congress’s ability to regulate AI is justified, warning that lawmakers must prove they can keep up with fast-moving technological change while addressing its impact on jobs.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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