Democratic Rep. Josh Gottheimer, who is helping shape his party’s artificial intelligence agenda, has revealed new purchases of AI-related stocks, just months after voting to ban individual stock purchases by members and their families.
The New Jersey Democratic Party disclosed on Oct. 12 that it had purchased funds ranging from $1,001 to $15,000. benchmark electronics His co-owned Morgan Stanley account also purchased up to $15,000 worth of stock, according to filings released this week. applied materials Acquired stock on October 26th, following three previous acquisitions of a major AI chip manufacturer advanced micro device.
Although there is no evidence of wrongdoing, the deal puts Gottheimer’s investments in the spotlight as Democrats prepare to take control of Congress in January and win new powers to regulate and investigate the AI industry.
Former Gottheimer microsoft He is the ranking member of the House Financial Services Subcommittee that oversees AI in finance, has introduced legislation on AI regulation, and co-chairs the committee that develops the Democratic Party’s broader AI agenda.
Gottheimer’s spokesman, Halladen Bottomley, said the congressman transferred management of his investments to a third party with “full investment discretion” before taking office in 2017.
“Mr. Gottheimer is also awaiting Congressional approval for the blind trust. In the meantime, he has taken the additional step of establishing a separate trust,” Bottomley said.
Democrats are already targeting the AI industry. Rep. Maxine Waters and Rep. Greg Cassar introduced a resolution opposing taxpayer bailouts for AI companies, a portion of which was referred to Gottheimer’s committee. Cassar called on AI executives to testify under oath as other Democrats push to limit data centers or stop new construction altogether.
The purchase also contrasts with Mr. Gottheimer’s longstanding support for limits on Congressional stock trading. In July, he was one of only 13 Democrats to vote in favor of the Insider Trading Act, which prohibits members of Congress and their families from purchasing most individual stocks. The bill passed the House of Representatives but has not become law. Some Democrats objected to the bill, both because it included voter ID provisions and because they believed it should have further restricted stock purchases and holdings by elected officials.
Four years earlier, Mr. Gottheimer had sponsored a bill that would have required lawmakers to invest in blind trusts and pledged to create one himself.
AI acquisitions are just one part of Gottheimer’s vast investment portfolio. The total value of the five transactions ranged from $5,005 to $75,000, while the disclosed household assets ranged from $15.1 million to $59 million, including up to $44.5 million in stock. According to Follow the Filings, his household has reported more than 1,100 securities transactions over a three-year period. Mr. Gottheimer and his wife, Mara Tusk, a general counsel at a political consulting firm, jointly report on household wealth.
advanced micro device compete with Nvidia Applied Materials supplies semiconductor manufacturing equipment. The company was also Benchmark’s largest disclosed customer in 2025, accounting for 14% of its revenue, according to securities filings.
Meanwhile, Benchmark generated 30% of its third-quarter revenue from semiconductor equipment and another 16% from advanced computing and communications, according to its Oct. 28 earnings report. Gottheimer also revealed that he acquired Applied Materials in August and sold it in September.
This purchase was made just before AI stock plunged. of Nasdaq Composite Index Shares plunged 5.5% on Thursday as Nvidia fell more than 9% and AMD fell about 17%. Both companies are included in the index.
The benchmark fell nearly 17% on Wednesday and Thursday, closing at $59.34, about 25% below Gottheimer’s closing price on the day of its October acquisition, before recovering slightly on Friday.
