What sounded like a radical economic theory just a year ago has officially entered mainstream public discourse. A national survey of 1,690 adults conducted by research firm Verasight reveals a staggering shift in public sentiment: 69% of Americans now support “forcing” major artificial intelligence companies to transfer 50% of their equity into a public sovereign wealth fund.
This unexpected wave of public support (via CNBC) directly aligns with a legislative push from Senator Bernie Sanders. He recently proposed the American AI Sovereign Wealth Fund Act. The legislation seeks to establish a $7 trillion public trust by creating a 50% public ownership share in the largest domestic AI companies. The goal is straightforward: Make sure the financial bonanza from automation goes to the general public, not just into the pockets of Silicon Valley billionaires.
The breaking point for American workers
Public resentment has steadily intensified alongside a harsh economic reality on the ground. While major tech corporations boast record-breaking valuations and ramp up massive capital investments in AI infrastructure, their workers are facing a brutal labor market. The tech sector has already suffered over 166,000 layoffs in 2026. Layoff tracking platforms like Trueup even predict that figure could climb to 312,000 by the end of the year.
The immediate future looks equally turbulent. Estimates from Goldman Sachs senior global economist Joseph Briggs suggest that up to 15 million workers—roughly 9% of the current US labor force—could see their jobs displaced over a ten-year AI transition period. Economists argue these losses might eventually prove temporary as new industries emerge. Still, the immediate friction of losing a livelihood is driving voters to look for aggressive safeguards.
Plus, the public is already paying the physical price of the AI transition. The rising number of data centers is creating an unprecedented strain on the US power grid, and power bills are increasing. This has led to bipartisan congressional proposals, like the Ratepayer Protection Act, designed to force tech giants to pay for the massive energy infrastructure upgrades their operations require.
Redistribution versus economic reality
Despite the high polling numbers, critics argue that a forced equity transfer is essentially an aggressive wealth grab that could severely backfire. Stripping companies of half their private equity could freeze critical venture capital, chill local research, and ultimately push cutting-edge AI development entirely offshore to less restrictive markets.
There is also the question of whether the survey’s phrasing skewed the results. Public opinion polling historically shows that people favor abstract wealth redistribution until they have to confront the complex, real-world trade-offs of implementing those policies.
Sanders’ ambitious bill is highly unlikely to pass through the current Congress. However, the shifting public tide is hard to ignore. The national conversation has rapidly progressed from wondering whether AI will change the workforce to deciding who gets the bill for the transition.
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