U.S. lawmakers plan to introduce legislation to require AI companies to pay a 50% equity stake! V God criticizes: The U.S. AI is moving toward nationalism

U.S. Senator Sanders Plans Legislation to Levy 50% Equity on Tech Giants like OpenAI and Establish a Sovereign Wealth Fund. The move is criticized by Ethereum founder Vitalik Buterin, who accuses the bill of being nationalist and fostering tech monopolies.

U.S. Senator Bernie Sanders announces the introduction of the "American AI Sovereign Wealth Fund Act," proposing a one-time 50% equity tax on top AI companies like OpenAI, Anthropic, xAI, and others, to create a sovereign wealth fund, making AI wealth owned by the public. Ethereum co-founder Vitalik Buterin publicly criticizes on social media that the AI industry is heading toward nationalism and encouraging the monopolization by tech giants.

Sanders: AI Is a Product of Humanity’s Collective Intelligence, Wealth Should Not Be Concentrated in a Few

In a New York Times article, Sanders points out that artificial intelligence did not emerge out of nowhere. The data and language that generative AI tools rely on come from generations of human-created books, songs, artworks, news, code, scientific research, and daily conversations, truly embodying humanity’s collective wisdom.

However, he criticizes that tech oligarchs, without authorization, acknowledgment, or compensation, input the creations of millions of writers, artists, musicians, journalists, teachers, and scientists into models—equivalent to the wealthiest group in the world stealing collectively from creators. He straightforwardly states it’s time for the public to reclaim what belongs to them.

Sovereign Wealth Fund Bill: Government Shares, Public Benefits from AI Profits

Sanders announces he will introduce the "American AI Sovereign Wealth Fund Act." Under this bill, the federal government will impose a one-time 50% equity tax on large AI companies like OpenAI, Anthropic, xAI, and others. Instead of cash, the government will acquire shares directly and incorporate them into a national sovereign wealth fund.

This move will produce two key effects: first, the government will gain real oversight through voting shares and equal seats on boards, enabling it to block harmful policies and promote decisions beneficial to the public; second, the trillions of dollars of future AI-generated wealth will be used to improve the standard of living for all Americans, covering healthcare, education, and housing, rather than enriching a few billionaires.

Sanders cites multiple precedents to support his stance: "Norway’s sovereign wealth fund, built from oil wealth, now exceeds $2 trillion and benefits all citizens long-term; Alaska established an oil sovereign wealth fund 50 years ago, distributing dividends directly to residents annually."

Previously, both OpenAI and Anthropic have proposed establishing public wealth funds or AI sovereign wealth funds, and Elon Musk has advocated for government-issued universal subsidies to address AI-related unemployment.

Vitalik: AI Companies Have Shrunk from "Benefiting Humanity" to "Benefiting 4% of the Population"

In response, Ethereum co-founder Vitalik Buterin reposted his own post on social media platform X, openly criticizing the nationalist rhetoric. He pointed out that AI companies in the 2010s proclaimed "benefiting all humanity," but by the 2020s, they had narrowed their focus to "benefiting about 4% of the global population (i.e., Americans)," using China as a threat as an excuse to justify their concentration of power and resource monopolization.

He believes that the U.S.-China AI race has become the main narrative in industry lobbying, but this zero-sum thinking contradicts the universal promises originally made by AI technology.

Legal Experts Warn: AI Growth Lacks Public Participation, Social Backlash Will Continue to Rise

Legal scholar Kevin Frazier states that Sanders’ article essentially issues a warning against an industry that has long avoided public oversight. He notes that without effective mechanisms for public input and participation in shaping AI development, social backlash will only intensify, and the potential uses of AI that remain unrealized will increase.

Currently, global AI regulation debates are divided along familiar political lines: one side supports public ownership, while the other warns that such measures could suppress investment and hinder innovation. Major AI companies valued at hundreds of billions or even trillions of dollars have not publicly commented on Sanders’ proposal. Sanders says the full bill will be officially announced in the coming weeks.

• This article is reprinted with permission from: "Chain News"
• Original title: "US Senator Plans Legislation to Levy 50% Stake on AI Companies, Vitalik Criticizes US AI Moving Toward Nationalism"
• Original author: Crumax