‘The fate of humanity must not be decided behind closed doors’: US artificial intelligence sovereign wealth fund sees surge in support as AI job losses mount — 69% of Americans want to see half of AI stock placed into new state-owned investment fund | Daily Reports Online
- Americans want the massive wealth of AI firms added to a sovereign wealth fund
- 69% would see AI firms forced to transfer 50% of stock into a sovereign fund
- The fund would help redistribute wealth and back new infrastructure and developments for working class Americans
A national survey has found over two-thirds (69%) of US citizens want to see AI firms transfer half of their stock into a sovereign wealth fund.
The survey, conducted by Verasight among 1,690 adults, also found that there was overwhelming support (89%) for AI companies to publicly disclose the results of all internal safety testing.
The sovereign wealth fund, proposed by Senator Bernie Sanders, would provide wealth for current and future generations, as well as acting as a source of capital for investment in new projects and developments designed to improve the lives of working class Americans.
Americans want AI wealth redistribution
At the announcement of Sanders’ proposed American AI Sovereign Wealth Fund Act, the senator said, “It would guarantee that the economic benefits generated by AI are used to improve the lives of all of us — not simply to make the richest people in the world even richer.”
“The future of AI and the fate of humanity must not be decided behind closed doors in Silicon Valley by billionaires seeking to maximize their power and profit,” Sanders said.
Interestingly, the survey only saw a small dip in support to 64% when the sovereign wealth fund was tied directly to Sanders, showing the bi-partisan desire for the enormous growth in AI wealth to be redistributed among Americans.
According to a Goldman Sachs report, companies operating in the AI industry have added more than $27 trillion in market value since late 2022, with corporate profits and tech investment soaring. But at the other end of the scale, working class Americans are seeing jobs replaced and entry level positions disappearing due to AI technologies.
A further report from Goldman Sachs predicts that during the 10 year AI transitional period, up to 15 million US workers could lose their jobs – around 9% of the current US workforce.
In 2026 alone, the tech sector has seen more than 166,000 layoffs, with many attributed to the adoption of new AI technologies. The trueup layoff tracker expects this number to rise to 312,000 by the end of the year.
Electricity prices are also surging in the US due to the demand of AI data centers, raising the cost of day-to-day life of millions of Americans. As a result, US representatives have put forward a bi-partisan Ratepayer Protection Act that would force AI companies and hyperscalers to pay for the energy they use, with additional charges to help fund the expansion of electricity infrastructure that has been placed under additional load by data centers.
Via CNBC
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