Senator Bernie Sanders proposes 50% equity tax on AI companies to fund American AI Sovereign Wealth Fund

Senator Bernie Sanders has proposed the American A.I. Sovereign Wealth Fund Act, which would impose a one-time 50% equity tax on major AI firms like OpenAI, Anthropic, and xAI. The plan, outlined in a June 1 op-ed, aims to transfer ownership to the public rather than tax profits. This creates headline risk and potential valuation headwinds for the targeted companies, which are currently raising capital.

AI Sovereign Wealth Fund

• ▪Senator Bernie Sanders proposed the American A.I. Sovereign Wealth Fund Act
• ▪The proposed fund would give American citizens direct ownership stakes in major AI technologies
• ▪Sanders outlined the proposal in a New York Times op-ed on June 1

50% equity tax mechanism

• ▪The equity tax departs from typical tech regulation proposals, which focus on licensing, safety audits, or corporate taxation
• ▪The proposal calls for a one-time 50% stock tax on major AI firms
• ▪The tax would transfer ownership shares from AI firms into a publicly held fund, rather than taxing corporate profits
• ▪The proposal specifically names OpenAI, Anthropic, and xAI as targets for the equity tax

Sanders AI policy agenda

• ▪In 2025, Sanders advocated for a “robot tax” to address AI-related job losses
• ▪Sanders previously projected that AI could cause up to 100 million job losses over a decade
• ▪Sanders has collaborated with Representative Alexandria Ocasio-Cortez on a proposed moratorium on AI data center construction

Investor sentiment risk

• ▪The proposal comes as the targeted firms are actively raising capital and negotiating valuations
• ▪The introduction of the bill creates headline risk for targeted AI companies like OpenAI, Anthropic, and xAI

Corporate valuation headwinds

• ▪Private firms Anthropic and xAI could face valuation headwinds if the proposal gains mainstream support
• ▪The proposal could complicate OpenAI’s ongoing transition from a nonprofit to a for-profit entity