AI Industry Spends $44M on 2026 Midterms to Shape Federal Policy

AI companies deploy political war chest

Artificial intelligence companies are making a major push into electoral politics, with two leading PACs spending at least $44 million on 40 House and Senate candidates through the end of June, according to Federal Election Commission data analyzed by CNBC.

The spending represents an early deployment of the more than $200 million the groups have raised collectively for the 2026 midterm cycle. Leading the Future has raised $125 million by the end of 2025, while Public First Action announced $80 million in fundraising through June.

The AI industry's financial backers include Andreessen Horowitz, OpenAI co-founder Greg Brockman, Palantir co-founder Joe Lonsdale, and AI company Perplexity. Anthropic contributed $20 million to Public First Action, though those funds are restricted to public education rather than direct political spending.

Why it matters

The AI industry is replicating the crypto sector's successful 2024 playbook, when Fairshake PAC spent $200 million and helped secure passage of major stablecoin legislation. With Congress actively debating the first national AI regulations—particularly around powerful models like Mythos and Claude Fable—this early spending positions AI companies to shape policy outcomes before regulatory frameworks solidify. The investment comes as both parties signal AI legislation will remain a priority despite limited legislative days remaining in 2026.

Competing visions for regulation

While both PACs support some level of AI oversight, they diverge on a critical question: whether federal law should override state regulations.

Leading the Future advocates for a "broad, national, consistent framework" that would establish uniform standards. The group has spent more than $24 million on primary races through June, and 25 of its 28 endorsed candidates have won their primaries.

Public First Action, which has spent $20 million and won all but one of its contested races, takes a more state-friendly approach. Brad Carson, who heads the organization, said preemption would be acceptable only if Washington creates a "comprehensive federal approach."

The tension played out in New York's 12th Congressional District primary, where both groups spent against Alex Bores. Leading the Future opposed him over his initial push for a more aggressive version of New York's RAISE Act, even though the group ultimately supported the weakened final law that Governor Kathy Hochul signed.

Congressional battle lines forming

House Majority Leader Steve Scalise told CNBC that state laws are "hurting innovation" and that overriding them will be "the foundation of anything we do." Republicans have attempted multiple times to preempt state AI laws without success.

Rep. Ted Lieu, co-chair of a House Democratic AI commission, acknowledged "bipartisan disapproval of preempting with nothing," though he noted Democrats recently backed federal privacy standards as a baseline in kids online safety legislation.

Josh Vlasto, co-leader of Leading the Future, emphasized urgency: "It is so important that we do this now and urgently, because it is still the early innings of the technology, but it is being adopted quickly, at scale."

These details were first reported by CNBC.