Sanders unveils bill to create AI sovereign wealth fund 

Sen. Bernie Sanders (I-Vt.) unveiled new legislation Thursday to create an AI sovereign wealth fund that would provide Americans with annual payouts by taking 50 percent stakes in the country’s largest AI companies.

Sanders, who announced plans to put forward such a measure earlier this month, estimated the sovereign wealth fund would be worth around $7 trillion based on the current valuations of AI firms.

“AI was not created out of thin air,” the senator said in a statement. “It was not a brilliant idea that just popped into Mark Zuckerberg’s head or Elon Musk’s imagination. The foundation of AI is based on the collective knowledge of humanity and the creative work of tens of millions of people.”

“The principle is simple: When a public resource generates wealth, the public should share in that wealth,” he added.

The fund would be managed by the newly created Independent Commission for Democratic AI, a bipartisan........

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