With the market capitalization of AI companies soaring, US Senator Bernie Sanders is looking to give the American people a piece of the action.
The veteran senator for Vermont has introduced the American AI Sovereign Wealth Fund Bill, aiming to give the public a 50 percent ownership in the largest AI companies in the US. It’s a timely move with both OpenAI and Anthropic preparing for the imminent IPOs.
Sanders is not the only one pondering such a move. As the bill notes, OpenAI has proposed the creation of a “Public Wealth Fund” giving citizens a stake in “AI-driven economic growth,” while Anthropic has proposed a sovereign wealth fund to “shape the sector’s behavior.” President Trump’s advisors are also contemplating the possibility of the government grabbing a stake in major AI corporations, according to media reports.
Sovereign wealth funds are not a new idea: Many administrations across the world have implemented them, notably Norway which has about $2 trillion in its wealth fund.
Sanders’ proposal would give the public a direct ownership stake in the largest AI companies, but, he said, it wasn’t just about the wealth. “The foundation of AI is based on the collective knowledge of humanity and the creative work of tens of millions of people. The American people must have the ability to slow it down and make sure that AI benefits humanity, not just the richest people on the planet. That’s precisely what this legislation does,” he said.
Maxwell began writing about technology in 1984, when mainframes ruled the world. Since then he has written for just about every business computing title in the UK, and for a few in the US, covering everything from Artificial intelligence to Zero-day exploits and all points in between. He has also been editor-in-chief of several award-winning titles, including Network Week, Techworld, and Cloud Pro, and a regular contributor to Whatsonstage.com. In his spare time he coaches a junior rugby team.
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