Following the money.

Raised $125M+ in 2025 alone (CNBC, Jan 30 2026), with an additional $25M commitment from a16z's Marc Andreessen and Ben Horowitz in Q1 2026 (Axios, April 2026). Main super PAC raised $75.54M and spent $24.39M as of March 31, 2026. American Mission, the Republican arm, has filed $4.81M in independent expenditures (Transformer News, May 6 2026). Transferred $5M each to American Mission (R) and Think Big (D), and $3M to Race for the Future. Led by Zac Moffatt and Josh Vlasto; Vlasto previously advised Fairshake, the crypto industry super PAC that spent $130M+ in the 2024 elections (NBC News Oct 2025, NOTUS Jan 2026). LTF is now backing at least 8 Democrats and 7 Republicans across federal races, plus Byron Donalds for Florida governor.

Backers

Andreessen Horowitz (a16z), OpenAI co-founder Greg Brockman, Palantir co-founder Joe Lonsdale, Ron Conway, Perplexity

Races

TX-21, NC-1, GA-1, MT-1, IA-4, IL-2, IL-8, NY-12 (opposing Bores), CA-16, GA-14, NY-9, VA-10, CA-34, NJ-5, FL-Gov, OR-4, NJ-8, NY-15

Leading the Future's advertising focuses on issues like healthcare and cost of living rather than AI policy. Despite being funded by major Trump donors including a16z and Palantir's Joe Lonsdale, the White House has publicly pushed back against the group because it backs Democratic candidates. A White House official told NBC News: "Any group run by Schumer acolytes will not have the blessing of the president or his team."

501(c)(4) nonprofit with three affiliated super PACs: Public First PAC (~$500K Q1), Jobs and Democracy (Democratic arm, ~$1M cash), Defending Our Values (Republican arm, funded by individual Anthropic and Adobe employee contributions of $1K–$100K). Public First PAC sent $740K to Jobs and Democracy and $300K to Defending Our Values. Jobs and Democracy PAC retracted $1M in Jackson Jr. (IL-02) opposition spending in April 2026; all line items amended to $0 with no public explanation.

Backers

Anthropic ($20M, restricted to education and public awareness — cannot be used for elections). Other donors undisclosed under 501(c)(4) status. Led by former Reps. Brad Carson (D-OK) and Chris Stewart (R-UT).

Races

NC-4 ($1.6M for Foushee), NY-12 ($602K for Bores), NJ-5 ($300K for Gottheimer), TX runoffs ($864K), TN-Gov (6-figure for Blackburn), NE-Senate (6-figure for Ricketts)

Anthropic's $20M is the only publicly named donation, but it is legally restricted to education — not elections. The source of the $3.48M in super PAC election spending has not been disclosed. Brad Carson has claimed a war chest near $75M; FEC filings show far less.

Filed with the FEC on April 3, 2026 (ID C00946111). Separate segregated fund (employee PAC), not connected to Public First Action. Plans direct contributions to candidates from both parties active on AI policy. Bipartisan board. Treasurer Allison Rossi, Assistant Treasurer Jared Powell. Bank: JPMorgan Chase. Contact: PAC@anthropic.com.

Backers

Anthropic employee voluntary contributions only, capped at $5,000 per person per election. Corporate treasury funds cannot contribute.

Races

TBD — no spending reported yet

A second, separate political channel from Anthropic's $20M Public First donation. Anthropic now maintains two distinct political operations — one through a nonprofit network, one through direct employee contributions.

501(c)(4) nonprofit. Plans to use a scorecard assessing how supportive lawmakers are of President Trump's AI agenda to determine who to support and oppose. Spending not yet disclosed.

Backers

Connected to White House AI adviser David Sacks. Donors not disclosed.

Races

TBD

As a 501(c)(4), this group does not have to disclose donors or spending on the same schedule as super PACs.

Claims $100M+ planned for midterm races, but the figure is aspirational and unverified. The affiliated Fellowship PAC's most recent FEC filing showed zero raised and zero cash on hand.

Backers

501(c)(4) nonprofit. Affiliated Fellowship PAC linked to Cantor Fitzgerald and Commerce Secretary Howard Lutnick. Donors not disclosed.

Races

TX, NY confirmed. Plans to expand.

The $100M figure is a stated goal, not confirmed fundraising. The affiliated Fellowship PAC has reported no money raised as of its latest filing.

Launched August 2025. Targets California state legislature candidates perceived as unfriendly to the AI industry.

Backers

Meta

Races

California state legislature

Part of Meta's two-track state-level strategy alongside the American Technology Excellence Project.

Launched September 2025 as Meta's national state-level vehicle. Expected to spend roughly $65 million on state races, with a focus on candidates friendly to the AI industry. Texas spending $1.2M+ on state races including comptroller and legislature. Illinois spending $750K+ on four state legislative candidates. Run by Republican strategist Brian Baker and Democratic consulting firm Hilltop Public Solutions.

Backers

Meta. Run by Republican strategist Brian Baker and Democratic consulting firm Hilltop Public Solutions.

Races

TX state races, IL state legislature, expanding nationally

State legislative races are significantly cheaper to influence than federal races, making Meta's dollar-for-dollar impact at state level potentially larger than any federal PAC.