Gottheimer Discloses Up to $75,000 in AI Stocks After Backing Trading Ban
Updated
Updated · CNBC · Nov 7
Gottheimer Discloses Up to $75,000 in AI Stocks After Backing Trading Ban
3 articles · Updated · CNBC · Nov 7
Summary
Five trades totaling $5,005 to $75,000 put Rep. Josh Gottheimer's AI-linked stock purchases under scrutiny as Democrats prepare to take control of Congress in January.
October filings show purchases of Benchmark Electronics and Applied Materials after three earlier buys of AMD shares, even though Gottheimer voted in July for a bill barring lawmakers and their families from buying most individual stocks.
A spokesman said Gottheimer handed investment control to a third party in 2017 and is still awaiting approval for a blind trust; his household assets total $15.1 million to $59 million and logged more than 1,100 securities transactions over three years.
The timing also drew notice because Gottheimer helps shape Democrats' AI agenda and sits on a House Financial Services panel overseeing AI in finance, while fellow Democrats are already pressing for tougher scrutiny of AI companies.
Those purchases came just before an AI-stock selloff: the Nasdaq fell 5.5% Thursday, AMD dropped about 17%, and Benchmark closed Thursday roughly 25% below its Oct. 12 purchase-date close.