Sen. Bernie Sanders (I-Vt.) has introduced the American AI Sovereign Wealth Fund Act to the U.S. Senate, which aims to gain 50% ownership of U.S. AI firms through a sovereign wealth fund. According to the Senator’s webpage, the first thing this would do is establish the Independent Commission for Democratic AI, which has seven bipartisan members nominated by the President and confirmed by the Senate. This body would control 50% of the voting shares of American AI tech companies, meaning it would have the capacity to “block decisions that hurt the American people and to push for policies that help them.”
The Vermont Senator has always been skeptical about AI. Late last year, he called for a complete halt on all data center construction in the U.S. to ensure that the technology benefits everyone and “not just the 1%.” It seems that this idea went nowhere, and his next pitch to the American people is for the establishment of the AI sovereign wealth fund. Sanders’ office estimates that the fund would be valued at $7 trillion at the current value of these companies, and that a 5% annual dividend would grant $1,000 for everyone in the United States.
