Bernie Sanders Proposes 50% Public Ownership of Major AI Firms

The proposed legislation targets AI giants through a one-time 50% stock tax, with the assets funneled into a sovereign wealth fund modeled after Norway’s Government Pension Fund. Sanders estimates this mechanism could generate $7 trillion for public use. The senator argues that because AI development relies on the collective knowledge of humanity, its financial rewards should benefit the public rather than exclusively enriching corporate executives.

Beyond equity, the bill reflects broader anxieties regarding AI's trajectory. Sanders cited the erosion of labor markets and the environmental toll of data centers as primary drivers for the legislation. He also called for a nationwide moratorium on new data centers to curb energy consumption during the current climate crisis. The bill seeks to shift decision-making power from private boardrooms to workers, artists, and scientists, aiming to ensure that the development of Artificial General Intelligence serves broader societal needs rather than individual profit motives.