The $265 Million War for Control of America's AI Regulatory Landscape
Silicon Valley's most powerful players are engaged in an unprecedented financial battle to determine who will write the rules governing artificial intelligence in the United States. With at least $265 million in collective financial firepower amassed by groups campaigning both for and against AI regulation, this spending blitz represents a $100 million increase compared to what main party fundraising vehicles for House elections had raised at this point in the 2022 election cycle.
Targeting Key Congressional Races
The former Palantir employee's race, which has become dominated by the nationwide dispute over AI regulation, is one of several midterm election contests poised to become a battleground over the future of the nascent technology. The spending blitz, targeting contests from New York to Texas, is set to reshape Congress and could significantly impact the next administration's ability to govern on technology policy matters.
Alex Bores, who as a state representative last year led efforts to pass New York's landmark AI safety bill, experienced this political pressure firsthand. While on the way to his wedding anniversary dinner in November, he learned that a handful of Silicon Valley billionaires were spending big to stop him becoming midtown Manhattan's next Democratic congressman.
"I wasn't surprised," said Bores, who noted that Leading the Future, the industry-backed vehicle that chose him as their first target in this election cycle, sees him "as the biggest obstacle for their quest for unbridled control over the American worker, over our kids, over utility bills and our climate."
The Major Players in the AI Regulation Battle
By far the biggest force is Leading the Future, a political action committee backed by prominent tech figures including:
- OpenAI co-founder Greg Brockman
- Venture capital titans Andreessen Horowitz
- Palantir co-founder Joe Lonsdale
- Several Trump donors
This group's leaders claim that state-level AI rules would "stifle innovation [and] enable China to gain global AI superiority." Seeking to replicate the success of Fairshake, a political action committee that deployed $135 million to support pro-cryptocurrency candidates in the last election cycle, Leading the Future has raised more than $125 million in the past year alone.
Corporate Giants Enter the Fray
Meanwhile, Meta, led by Mark Zuckerberg, has warned of a "growing patchwork of inconsistent regulations that threaten homegrown innovation and investments in AI" and is preparing to spend at least $65 million at the state level to support both Democratic and Republican candidates in local races.
Several other large war chests stand ready to help influence the regulatory landscape. Building America's Future, a non-profit previously backed by Elon Musk, bankrolled a six-figure ad campaign in December urging Congress to block state regulation—an effort that ultimately failed due to Republican opposition.
The Pro-Regulation Counterforce
The AI industry's best-funded rival is Public First Action, which funds two political action committees:
- Jobs and Democracy, which backs Democratic candidates
- Defending Our Values, which supports Republicans
Public First Action's only disclosed donor is Anthropic, the one major AI company to back increased regulation of the technology. Anthropic earlier this month revealed it had given the group $20 million, stating it believed "effective AI governance means more scrutiny of companies like ours, not less." Public First aims to raise as much as $75 million in total to counter the industry's anti-regulation efforts.
Public Concerns and Political Implications
This massive spending comes as AI accelerationists pouring money into the midterm elections are contending with an American public that is increasingly concerned about the negative effects of the technology. The battle over AI regulation represents one of the most significant corporate influence campaigns in recent political history, with potential to shape not just individual races but the broader direction of American technology policy for years to come.
The outcome of these midterm elections will determine whether Silicon Valley's vision of limited AI regulation prevails or whether a more cautious, regulatory approach championed by figures like Alex Bores gains traction in Congress and state legislatures across the country.
