Layoffs in US Drive 69% of Americans Support Public Sovereign Wealth Fund for AI Equity: Report
A Verasight poll shows 69% of Americans support forcing AI companies to transfer half their equity into a public fund. Driven by job displacement fears and rising energy costs, the shift in sentiment reflects a growing demand for tech giants to share the wealth generated by automation.
A national poll conducted by Verasight has revealed that 69% of Americans support a proposal to mandate that leading artificial intelligence companies transfer half of their equity into a public sovereign wealth fund. This significant bipartisan shift in public opinion reflects growing unease regarding the economic impact of automation and the current state of the labour market.
As per a report by Android Headlines, this survey of 1,690 adults underscores the increasing desire among voters to hold major technology corporations financially accountable. The proposal mirrors legislative efforts by Senator Bernie Sanders, who has introduced the American AI Sovereign Wealth Fund Act, aimed at ensuring the economic benefits of AI advancement are shared with the general public. Volkswagen Layoffs: Company May Cut 1,00,000 Jobs in Major Restructuring, Says Report.
Economic Anxiety and the Labour Market
The surge in support for wealth redistribution comes as the technology sector faces substantial instability. According to data from layoff tracking platforms, the industry has seen over 166,000 job losses in 2026, with projections suggesting this figure could rise significantly by year-end. These trends are further compounded by forecasts from Goldman Sachs, which suggest that up to 15 million US jobs, nearly 9% of the workforce, could be displaced over the next decade due to AI integration.
Beyond job displacement, the public is increasingly concerned with the infrastructure costs associated with AI development. The rapid expansion of energy-intensive data centres has placed strain on the US power grid, leading to rising electricity costs for consumers. This has prompted bipartisan discussions in Congress regarding legislative measures, such as the Ratepayer Protection Act, to ensure tech giants bear the financial responsibility for necessary power grid upgrades.
Debating the Future of AI Investment
While the polling data indicates strong public approval, critics warn that a forced equity transfer could have adverse effects on the economy. Opponents argue that seizing private equity would stifle technological innovation, freeze essential venture capital, and potentially drive AI development to more favourable regulatory environments overseas. Thomson Reuters Layoffs: Reuters News Parent Cuts Engineering Roles to Focus on AI Strategy..
Despite these concerns, the shift in public sentiment indicates that the national discourse has moved beyond the feasibility of AI towards the question of economic equity. While major legislative changes remain unlikely in the current political climate, analysts suggest that the tech industry may need to address these public demands for job stability and wealth sharing to mitigate the risk of more aggressive regulatory intervention in the future.
(The above story first appeared on LatestLY on Jul 14, 2026 12:58 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).