Author: Frank Salvato

Sen. Bernie Sanders has unveiled legislation that would require major artificial intelligence companies generating at least $200 million in annual AI revenue to surrender a 50% ownership stake to a government-controlled sovereign wealth fund. Sanders argues that AI is built upon the collective knowledge of society and that its economic gains should be broadly distributed rather than concentrated among technology executives and investors. The proposal would create a fund estimated at roughly $7 trillion in value, provide annual payments to Americans, and grant government-appointed representatives significant voting power within AI companies. Critics contend the plan amounts to an unprecedented government…

Illinois is on the verge of becoming the first state in the nation to prohibit drivers from wearing AI-powered smart glasses behind the wheel. The legislation, strongly backed by Illinois Secretary of State Alexi Giannoulias, would classify smart glasses as prohibited electronic communication devices under existing distracted-driving laws. Supporters argue that emerging wearable technology capable of displaying information, recording video, sending messages, and interacting with artificial intelligence presents the same—or potentially greater—distraction risks as smartphones. The proposal passed unanimously through the Illinois General Assembly and now awaits Gov. J.B. Pritzker’s signature. Advocates contend the measure is a necessary response to…

Chicago’s new social media tax is generating far more revenue than city officials originally projected, with collections during the first four months of 2026 putting the city on pace to receive nearly $50 million this year instead of the anticipated $31 million. The tax applies to major social media platforms based on active Chicago users above a specified threshold and has become a centerpiece of Mayor Brandon Johnson’s fiscal agenda. While supporters tout the unexpected revenue as proof that large technology companies can be tapped to fund local government priorities, opponents argue the levy represents an unprecedented and potentially unconstitutional…

The global race to build artificial intelligence infrastructure is accelerating at a pace rarely seen outside of wartime mobilizations or the space race, with projections suggesting that AI-related data center spending could reach $7 trillion by 2030. Much of this unprecedented expansion is being financed through complex off-balance-sheet arrangements, long-term purchase commitments, and special-purpose financing vehicles that obscure the true level of corporate obligations. While major technology firms remain financially powerful enough to sustain these commitments for now, the scale of hidden liabilities raises concerns about whether the AI boom is creating a durable foundation for economic growth or a…

Google’s redevelopment of the former James R. Thompson Center into its new Midwest headquarters is being viewed as a potentially transformative investment for downtown Chicago. The project, centered in the city’s Central Loop, involves hundreds of millions of dollars in renovations and is expected to bring thousands of employees into an area that has struggled to recover from pandemic-era declines in office occupancy and foot traffic. Supporters argue the headquarters could serve as an anchor for broader economic revitalization, encouraging additional private investment, attracting new businesses, and reinforcing Chicago’s status as a major technology and corporate hub at a time…

The rapid evolution of agentic artificial intelligence—systems capable of autonomous decision-making, iterative learning, and independent action—has outpaced the frameworks meant to govern it. What began as narrow, assistive AI has quickly matured into something far more consequential: software entities that can plan, execute, and adapt with minimal human intervention. That shift introduces a simple but urgent problem—power without accountability. And if history has taught us anything, it’s that unaccountable power, no matter how well-intentioned at the outset, eventually produces consequences that demand correction at far greater cost. At the heart of the issue is a governance void. Policymakers, regulators, and…

Jeff Bezos, through his investment vehicle Bezos Expeditions, is backing Cambridge-based startup CuspAI in a reported $400 million funding round that would increase the company’s valuation from roughly $520 million to $2.6 billion. CuspAI uses generative artificial intelligence to accelerate the discovery of new materials, allowing manufacturers and technology firms to identify molecular structures with specific desired properties in months rather than years or decades. The investment underscores a growing shift in the AI sector away from consumer chatbots and toward real-world industrial applications, including advanced manufacturing, semiconductors, clean water technologies, aerospace, and next-generation engineering. The deal also highlights the…

The traditional steering wheel, long the defining symbol of personal transportation, is increasingly being challenged by rapid advances in autonomous vehicle technology and evolving federal regulations. As automakers and technology companies push toward fully driverless transportation, vehicles designed without steering wheels or pedals are moving from concept to reality. While proponents argue that removing human controls could improve safety and mobility, skeptics contend that regulatory, technological, and public-trust hurdles remain substantial. The debate highlights a broader question: whether Americans are ready to surrender direct control of their vehicles to artificial intelligence and automated systems. 12Sources Key Takeaways In-Depth For more…

An Atlanta-based investor has rapidly deployed nearly half a billion dollars in capital in less than two years, reflecting the continued appetite among private equity firms and institutional investors for strategic acquisitions despite economic uncertainty and elevated interest rates. The aggressive pace of investment underscores confidence in long-term market fundamentals, particularly in sectors where operational improvements, consolidation opportunities, and disciplined capital allocation can generate significant returns. The development also highlights how experienced investors are increasingly moving quickly to secure assets before competition intensifies further, signaling that substantial capital remains available for well-positioned businesses even as broader economic conditions remain mixed.…

Anthropic is reportedly engaged in discussions with Commerce Secretary Howard Lutnick in an effort to overturn U.S. export restrictions that forced the company to disable its advanced Mythos 5 and Fable 5 artificial intelligence models worldwide. The restrictions were imposed after concerns emerged that the models’ safeguards could be bypassed, potentially enabling sophisticated cybersecurity and vulnerability-discovery capabilities that U.S. officials viewed as a national security risk. Anthropic argues the concerns have been overstated and is seeking a framework that would allow the models to return to service while satisfying government security requirements. The dispute highlights a growing divide between rapid…