Cruz AI Bill Takes Shape With Light-Touch Policy Backed by Tech

A key Republican senator is pressing to waive federal regulations for artificial intelligence companies while they test and develop their products, according to a draft of the bill viewed by Bloomberg News.

The legislation from Commerce Chairman Ted Cruz, whose panel has jurisdiction over the industry, reflects a push by leading tech companies that want minimal governmental interference as they experiment with AI technologies.

The bill would likely be a boon for AI-focused companies including Meta Platforms Inc., OpenAI Inc., Amazon.com Inc. and other tech companies seeking to launch new AI products.

Under the proposal, AI companies ...