Bernie Sanders recently proposed a US sovereign wealth fund funded by taking 50% stakes in AI companies like OpenAI and Anthropic. While we support his goals of democratic control and wealth redistribution, we believe there are better approaches.
The Problem with Public Ownership
Taking equity in AI firms would entangle government interests with corporate profits. This could incentivize regulators to prioritize company valuations over public safety, similar to how Norway's sovereign wealth fund has hindered climate action due to its oil holdings.
Separate the Goals
We propose two distinct solutions: energy taxation to recoup social costs, and a public AI option to set competitive baselines. Senator Elizabeth Warren's excise tax on datacenter energy use is a straightforward way to make AI companies pay for disruption.
Public AI models, like Switzerland's Apertus, offer democratic control without ownership conflicts. Apertus uses renewable energy, respects copyright, and provides transparency—outperforming corporate models in sustainability even if not in raw performance.
Sanders' fund might attract billionaires because they expect favorable policies in return. Energy taxation and public AI avoid this risk while achieving the same ends. We urge leaders to consider these alternatives.
