What AI companies want for the millions they’re spending on elections

AI executives and companies are betting that spending millions in the 2026 midterm elections will allow them to influence AI bills being developed in Congress.

As of the end of June, the two biggest artificial intelligence political action committees have dropped at least $44 million into 40 House and Senate candidates, per a CNBC analysis of Federal Election Commission data. That’s an early taste of how the groups will spend the more than $200 million they’ve raised on the rest of primary season and into the general election, according to fundraising totals provided by groups.

The spending by the burgeoning AI industry makes it an increasingly powerful player in the Washington influence space. The companies — through their PACs — are setting themselves up to shape how the first national legislation to regulate AI use takes form.

Brad Carson, who heads Public First Action, a nonprofit organization with several PACs, said he’s seen more bills introduced and discussion around AI legislation, especially as concerns about the capabilities and risks of powerful AI models like Mythos and Claude Fable have come into the spotlight. While any legislation is unlikely to cross the finish line this year, given the limited number of days lawmakers are in session, both parties have signaled AI will continue to be a priority in coming years.

“They have a lot of benefits. They have a lot of dangers. And you can’t just release them into the wild with no government concern,” Carson told CNBC. “Everybody from the right to the left, from pro-Trump to anti-Trump recognizes that.”

Josh Vlasto, co-leader of Leading the Future, said coming up with the right regulatory structure is critical for lawmakers.

“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,” he told CNBC.

The overwhelming number of candidates supported by both PACs have won their primaries. Of the 28 candidates Leading the Future has backed, 25 have won their primaries, two have yet to face their elections and only one — Jesse Jackson Jr. — lost. The group also opposed Alex Bores, who lost the Democratic primary in New York’s 12th Congressional District.

Public First Action has backed candidates in 11 races. With the exception of Bores, every candidate it has supported has won. Carson said the group plans to spend in 50-60 races by the end of the midterms.

The playbook AI companies are using isn’t a new one. In the 2024 elections, crypto-backed PAC Fairshake dropped an eye-popping $200 million into elections, supporting pro-crypto candidates on either side of the aisle. The result: A major bill on stablecoins became law, and significant progress was made on a rules-of-the-road digital assets bill favored by major crypto companies like Coinbase and Ripple.

So far, Leading the Future has spent more than $24 million on primary races through the end of June, according to data filed with the Federal…