Bernie Sanders announced last week that he will be introducing legislation aimed at creating an artificial intelligence sovereign wealth fund. Sanders proposes confiscating 50 percent of AI equity and putting it into a public fund, having the government act as an active shareholder. Sanders falsely implies that this is a mainstream practice around the world. It is quite telling that Sanders does not understand how Norway’s sovereign wealth fund, built from oil revenue and currently buying small stakes in a number of AI firms at the market price, differs from his own proposed state confiscation. In fact, only Sweden provides ...