Rep. Josh Gottheimer, a Democrat helping write his party's artificial intelligence agenda, has disclosed new purchases of AI-linked stocks — just months after voting to ban lawmakers and their families from buying individual shares.
The New Jersey Democrat disclosed an Oct. 12 purchase of between $1,001 and $15,000 of Benchmark Electronics stock, according to a filing released this week. His jointly owned Morgan Stanley account also bought up to $15,000 worth of Applied Materials shares on Oct. 26, following three earlier purchases of leading AI chipmaker Advanced Micro Devices.
While there's no evidence of wrongdoing, the trades put Gottheimer's investments in the spotlight as Democrats prepare to take control of Congress in January, gaining new power to regulate and investigate the AI industry.
Gottheimer, a former Microsoft executive, sits on the House Financial Services subcommittee overseeing AI in finance, has introduced legislation on AI regulations and co-chairs a commission developing Democrats' broader AI agenda.
Gottheimer's spokesman, Haraden Bottomley, said the congressman turned over control of his investments to a third party with "full investment discretion" before taking office in 2017.
"Gottheimer is also awaiting approval from Congress of a blind trust. In the meantime, he has taken the extra step of setting up an independent trust," Bottomley said.
Democrats are already targeting the AI industry. Reps. Maxine Waters and Greg Casar introduced a resolution opposing taxpayer bailouts for AI companies, referred in part to Gottheimer's committee. Casar has also called for AI executives to testify under oath, while other Democrats are pushing to restrict data centers or halt new construction altogether.
The purchases also contrast with Gottheimer's longstanding support for restricting congressional stock trading. In July, he was among just 13 Democrats who voted for the Stop Insider Trading Act, which would prohibit lawmakers and their families from purchasing most individual stocks. The bill passed the House but has not become law. Some Democrats opposed it both because it contained a voter-ID provision and because some said it should have gone further in curbing stock purchasing and holding by elected officials.
Four years earlier, Gottheimer backed legislation requiring lawmakers to place investments in blind trusts and pledged to establish one himself.
The AI purchases are just a small slice of Gottheimer's sprawling investment portfolio. The five trades totaled between $5,005 and $75,000, compared with $15.1 million to $59 million in disclosed household assets, including up to $44.5 million in stocks. His household has reported more than 1,100 securities transactions over three years, according to Follow the Filings. Gottheimer reports household assets jointly with his wife, Marla Tusk, who is general counsel at a political consulting firm.
Advanced Micro Devices competes with Nvidia in AI chips, while Applied Materials supplies semiconductor manufacturing equipment. It was also Benchmark's largest disclosed customer in 2025, accounting for 14% of revenue, according to a securities filing.
Benchmark, meanwhile, 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 disclosed an Applied Materials purchase in August and a sale in September.
The purchases came shortly before a sharp selloff in AI stocks. The Nasdaq Composite Index plunged 5.5% Thursday, as Nvidia dropped more than 9% and AMD roughly 17%. The index includes both companies.
Benchmark fell nearly 17% over Wednesday and Thursday, closing at $59.34 — roughly 25% below its closing price on Gottheimer's October purchase date — before recovering somewhat Friday.
