Gottheimer's AI buys follow vote for congressional ban — SkimNews
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- Josh Gottheimer disclosed an Oct. 12 purchase of $1,001–$15,000 in Benchmark stock and an Oct. 26 purchase of up to $15,000 in Applied Materials through a jointly owned Morgan Stanley account, after three earlier AMD buys.
- Stop Insider Trading Act would bar lawmakers and their families from buying most individual stocks; Gottheimer was among just 13 Democrats who backed it in July, but some Democrats opposed its voter-ID provision and limited scope, and the House-passed bill has not become law.
- Haraden Bottomley said Gottheimer turned investment control to a third party with full discretion before taking office in 2017, set up an independent trust and awaits congressional approval of a blind trust.
- Maxine Waters and Greg Casar introduced a resolution opposing taxpayer bailouts for AI companies that was referred in part to Gottheimer’s committee; Casar also called for AI executives to testify under oath, while other Democrats sought limits on data centers.
- Follow the Filings reports that Gottheimer’s household logged more than 1,100 securities transactions over three years; the five AI-linked trades totaled $5,005–$75,000 against disclosed household assets of $15.1 million–$59 million, including up to $44.5 million in stocks.
- Applied Materials was Benchmark’s largest disclosed customer in 2025, accounting for 14% of revenue; Benchmark said 30% of third-quarter revenue came from semiconductor equipment and 16% from advanced computing and communications.
- Benchmark fell nearly 17% over Wednesday and Thursday, closing at $59.34—about 25% below its close on Gottheimer’s purchase date—before recovering Friday; the Nasdaq fell 5.5% Thursday, with Nvidia down more than 9% and AMD about 17%.
Why it matters: Gottheimer’s five AI-linked purchases, totaling $5,005–$75,000, intersect with the policy he is helping shape as Democrats take Congress in January. The contrast gives incoming lawmakers a specific conflict to examine while he co-chairs the party’s AI agenda, though no wrongdoing is alleged and his spokesman says a third party controls the trades.
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