Over the past year, politicians and AI executives have floated ideas for a sovereign wealth fund or other ways of giving the American public a stake in the AI boom. Some of the biggest public pension plans are poised to get a taste of the action long before those proposals come to fruition.

Pension plans representing public employees in Orange County, Los Angeles, Massachusetts and South Carolina are positioned to get sizeable payouts from Anthropic’s expected initial public offering in November, thanks to the investments they made in one big Anthropic backer, Spark Capital, according to an analysis from The Information.