Bernie Sanders and Donald Trump rarely see eye-to-eye, but both favor government equity stakes in major AI companies. The Vermont senator is drafting legislation to part-nationalize leading AI labs like OpenAI and Anthropic through a one-off 50% stock tax. His rationale: AI built on collective human knowledge should benefit all Americans, not just Big Tech executives.

Trump echoed similar sentiments last week, confirming discussions with AI labs about government partnerships. His administration has already committed over $10bn in direct stakes to semiconductor and mineral companies deemed critical for national security. The president framed it as potentially creating a partnership with the American public, though libertarians in his orbit strongly oppose state intervention in private markets.

Some AI companies appear receptive to the concept. Both OpenAI and Anthropic have previously floated public investment fund ideas, with CEO Sam Altman meeting Sanders to discuss implementation. Critics argue this civil-technological fusion mirrors China's state-capitalist model, risking regulatory capture and market distortion.

Bankers drafting IPO prospectuses for these AI firms now face uncertainty as the debate intensifies. Questions remain about fund structure, eligible companies, and international equity considerations. Yet if AI companies realize their multi-billion-dollar potential, some form of public compensation will likely become unavoidable.