(SeaPRwire) – By: Jonathan Barrett
Bernie Sanders’ proposed American AI Sovereign Wealth Fund Act isn’t just another policy tweak. It’s a direct attack on the unchallenged profit model of Big Tech’s AI giants. For decades, firms have hoarded gains from AI built on public data and everyday people’s labor. This plan would flip that script entirely, seizing 50% ownership of firms with over $200 million in annual sales. It’s already sparked fierce pushback from the industry and quiet support from frustrated voters across the political spectrum.
The bill targets AI firms making over $200 million a year, forcing them to hand over half their stock to the federal government. Sanders estimates the fund would be worth $7 trillion at current valuations, with a 5% annual dividend funding $1,000 checks per American. A seven-person independent commission would oversee the stake, nominated by the president and confirmed by the Senate. The plan would also force mixed AI firms to split their AI and non-AI business lines to protect public holdings.
Sanders first floated the idea weeks prior, meeting with OpenAI CEO Sam Altman earlier this month to discuss the plan. Altman agreed public equity in AI firms makes sense, but rejected the 50% ownership stake. Sanders has called out Big Tech’s lobbying power, saying firms can spend millions to defeat candidates who back public interest rules. He’s also noted that many top AI firms like OpenAI and Anthropic aren’t currently profitable, but argued Americans won’t lose money since they get the stock for free.
The core principle of the bill— that Americans should profit from AI’s financial gains— is gaining traction across the political spectrum. Former President Donald Trump has also proposed government equity stakes in AI firms, though he hasn’t shared details on the size or use of the stake. Semafor reports that Commerce Secretary Howard Lutnick supports the sovereign wealth fund framework, while Treasury Secretary Scott wants to use equity for Trump Accounts. Sanders hasn’t secured any official co-sponsors in the Senate yet.
Sanders has criticized AI firms for prioritizing profit over public harm, pointing to job loss, privacy erosion, and worsening child mental health from AI tools. He’s pushed back against claims he’s a Luddite, noting AI can deliver real public good when guided properly. The bill faces long odds in the current Congress, where both parties have deep ties to Big Tech campaign donations. Even so, it’s already shifted the national conversation around AI’s fair share for everyday people.
Unless campaign finance rules are overhauled first, this bill will never make it to a floor vote.
Author bio: Jonathan Barrett, lead focus editor for an independent overseas public affairs weekly, covering US legislative and tech policy beats.
