Sanders bill would give U.S. stake in AI companies; analyst calls idea ‘nutty’

A U.S. Senate bill would give the federal government a 50% ownership stake in the largest artificial intelligence companies, creating a sovereign wealth fund its sponsor estimates would be worth $7 trillion. One policy analyst called the idea “nutty” while others said it would put American AI companies at a combative disadvantage and would lead to offshoring.

Sen. Bernie Sanders, I-Vt., introduced the American AI Sovereign Wealth Fund Act, which would impose a one-time 50% tax on AI company stock and deposit those shares into a fund that could pay every American more than $1,000 annually.

Sanders said AI was built on “the collective knowledge of humanity and the creative work of tens of millions of people” and that the public deserves a direct ownership stake in the companies that have profited from it.

The fund would be managed by a seven-member independent commission, nominated by the president and confirmed by the Senate, with authority to use its votin...