U.S. workers back AI wealth fund proposal as tech layoff concerns grow

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AI wealth fund proposal

Highlights

Verasight's June survey of 1,690 U.S. adults shows 69% support for requiring AI companies to transfer 50% of their stock to a public sovereign wealth fund.
In June, Senator Bernie Sanders proposed the American AI Sovereign Wealth Fund Act, aiming to give the public a 50% stake in the largest U.S. AI companies amid growing worker dissatisfaction and job cuts.
Goldman Sachs estimates more than 9% of the labor force, or about 15 million U.S. workers, could lose jobs in a 10-year AI transition, with job losses expected to be temporary as new roles emerge.

Survey findings and policy backdrop

As reported by CNBC, a June survey by research firm Verasight of 1,690 adults finds that 69% of Americans support requiring AI companies to transfer 50% of their stock to a public sovereign wealth fund. The poll, published earlier this month, reflects growing dissatisfaction among workers as corporate profits remain strong while technology companies continue cutting jobs.

Benjamin Leff, chief executive officer of Verasight, says the public sees AI sovereign funds as a way to return more of the industry's gains to society. In June, Senator Bernie Sanders proposes the American AI Sovereign Wealth Fund Act, which would give the public a 50% stake in the largest AI companies in the U.S.

Sanders says in a statement last month that the measure would help ensure AI-driven economic benefits improve living standards broadly rather than enrich only the wealthiest individuals. The proposal places public ownership and redistribution at the center of a widening debate over AI's economic impact.

Labor market pressure and fund challenges

The increase in U.S. technology layoffs is leaving many workers uneasy about job security as companies keep raising capital spending for AI expansion. Goldman Sachs Senior Global Economist Joseph Briggs estimates in a report published last month that more than 9% of the labor force, roughly 15 million workers, could lose their jobs during a 10-year AI transition period.

Briggs says the shift could resemble earlier waves of automation and labor reallocation seen in the late 1990s and early 2000s. Goldman Sachs adds that he expects the losses to be temporary over the longer term because AI is also likely to create new roles even as it replaces existing ones.

Research firm Windfall Trust says sovereign wealth funds can finance national AI infrastructure, take equity stakes in AI companies and channel part of AI-led gains to the public treasury. But it also warns that such funds may face tension between maximizing returns for citizens and advancing domestic strategic AI goals, especially when stronger financial opportunities lie in foreign AI companies.

In our earlier article on Amazon’s large-scale layoffs, we reported that more than 57,000 employees have been cut since 2022 as the company and the wider tech sector redirect spending toward AI. We noted that AI is increasingly cited as a key driver behind restructuring, leaving many displaced workers facing a crowded job market, lower offers, and roles that appear to be disappearing.

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