AI leaders pour millions into 8th District primary
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Illustration: Maura Kearns/Axios
A crypto billionaire and prominent tech leaders are spending huge sums to elect Manny Rutinel in the Democratic primary for Colorado's ultra-competitive 8th Congressional District.
Why it matters: Interest in the race appears tied to Rutinel's support for AI regulation and positions him as one of the tech industry's top-funded candidates in the nation.
Follow the money: Outside groups with ties to the tech industry have spent $5.5 million on television ads boosting Rutinel and attacking rival Shannon Bird, according to federal campaign finance records.
- The Latino Victory Fund has spent $2 million to date, and its affiliated Latino Victory Project added $1 million.
- Latino-led Somos PAC announced its first-ever primary endorsement and contributed $1.3 million so far to support Rutinel. It also gave money to Nuestro PAC, which spent $315,000 in negative ads against Bird.
- The You Can Push Back PAC spent another $977,000 to boost Rutinel.
Tech executives are behind much of the money, though other parts are untraceable.
- You Can Push Back is funded solely by Chris Larsen, a California tech billionaire and cryptocurrency executive.
- Former Google CEO Eric Schmidt and his wife, Wendy, donated $2 million to Somos PAC through a related nonprofit.
- Latino Victory Project does not report its donors.
In addition, employees at four tech companies — Anthropic, Google, Meta and OpenAI — contributed a collective $265,000 directly to Rutinel's campaign, according to a tracking website.
What they're saying: Rutinel's campaign did not return messages from Axios seeking comment on the donations.
The big picture: The spending appears linked to Rutinel's support for AI regulation. As a state lawmaker, he voted for two bills that would put guardrails on the technology.
- The only candidates who have received more support from AI interests are New York's Alex Bores and California's Scott Wiener, both backers of AI regulation.
The other side: As a state lawmaker, Bird opposed a 2024 bill that put tight regulations on AI. She said it went too far and would stifle innovation in Colorado.
- The regulations were later repealed and replaced by less stringent rules.
By the numbers: Outside organizations tied to electing women and reproductive rights have spent about $1.7 million to support Bird in the race.
What she's saying: In a statement to Axios, Bird blasted the tech campaign cash, saying, "Our district isn't for sale."