WASHINGTON, D.C, – Today, Senator Jim Banks (R-Ind.) introduced the GAIN AI Act.
This legislation creates an America-First right of first refusal to ensure American customers are served by our cutting-edge technology before foreign adversaries. Senators Elizabeth Warren (D-Mass.), Tom Cotton (R-Ark.), Chuck Schumer (D-N.Y.), Dave McCormick (R-Pa.) and Chris Coons (D-Del.) are original cosponsors of the bill.
Senator Jim Banks: (R-Ind.): “The GAIN AI Act makes sure we use American-made technology to strengthen our own economy and security before sending it to adversaries overseas.”
Key Provisions of the GAIN AI Act are:
- Prevent the export of advanced artificial intelligence chips to arms embargoed countries if there is unmet demand from American companies.
- Strengthen national security and technological competitiveness by ensuring U.S. companies have a “right of first refusal” to acquire these chips.
- Promotes U.S. technology dominance by allowing trusted American companies (such as large cloud service providers and chip operators) to move or operate advanced AI chips abroad without triggering full export control licensing, as long as they meet stringent security and ownership criteria.
Full text of the bill can be found here.
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