Senator Bernie Sanders unveils plan to tax large AI firms 50% to create a sovereign wealth fund for Americans.
Senator Bernie Sanders announced plans to introduce legislation granting the public a 50% ownership stake in large AI companies via a one-time stock tax. The AI Sovereign Wealth Fund Act aims to redistribute wealth generated by artificial intelligence, citing collective human knowledge as the foundation for AI advancements.
Global AI spending is projected to reach $2.52 trillion this year, with $401 billion allocated to foundational infrastructure alone, according to Gartner. The proposal emerges as AI firms like OpenAI and Anthropic explore public market listings, attracting significant investor interest.
The legislation faces substantial regulatory hurdles and remains in early stages, with no clear path to passage. Market reaction to the proposal has not been detailed in initial reports.