White House · OpenAI · Sam Altman · Donald Trump · U.S. · China · Fortune Technology
President Donald Trump has similarly proposed that the government take a direct equity stake in AI companies
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Sanders said he has not spoken to the White House about his plan.
Key facts
- Sanders estimates that at current valuations, the fund would be worth $7 trillion, with plans to pay out yearly $1,000 checks to every American from the expected 5% dividend from the AI companies
- AI companies that make more than $200 million in annual sales would be subject to 50% government ownership
- Similarly, 67 countries have sovereign wealth funds, according to the bill, including Norway, China, and the United Arab Emirates
- For weeks, the senator has been teeing up interest in his plan to give Americans 50% ownership in the biggest AI companies
Summary
Bernie Sanders, possibly like you, has been thinking a lot about AI. “AI and robotics will impact every man, woman, and child in this country,” Sanders said on a phone call with Fortune and other reporters on Thursday, pointing to predictions that the technology will bring about massive job loss, undermine privacy rights, and worsen children’s mental health. For weeks, the senator has been teeing up interest in his plan to give Americans 50% ownership in the biggest AI companies. “AI is built on the foundation of human knowledge, of the work of millions and millions of people. A sovereign wealth fund is a state-owned investment vehicle that manages national public assets.