AI and crypto money is pouring into the U.S. midterms. Will it matter?
In this news:
Key takeaways
- AI and crypto sectors are bankrolling hundreds of millions in U.S. midterm advertising.
- The industries show internal conflicts regarding state versus federal regulation approaches.
- Super PACs like Leading the Future have deployed millions across dozens of primaries.
The AI and cryptocurrency sectors are bankrolling hundreds of millions of dollars in advertising to shape public opinion and elect allies to Congress and key state offices in the midterm elections. But neither industry spends with consensus, on political objectives or even party, revealing two rapidly evolving industries roiled by internal conflict. That’s not exactly the harbinger of a tech apocalypse foisted on the country by billionaires gone rogue.
Anthropic, for example, has advocated for regulating the industry at the state level and donated millions toward building public support for that approach. Conversely, top AI super PAC Leading the Future is the tip of the spear for investors and firms, like Perplexity, that are pushing U.S. President Donald Trump and Congress to enact federal regulations that would supersede any state legislation. The group has deployed roughly $30 million in nearly 40 primaries this year on behalf of both Democrats and Republicans, touting a record of 38-1. And their messaging has been tailored to specific campaigns, versus an AI-focused pitch that strategists acknowledge would be ineffective at moving voters.
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