Why California's SB 53 Act could effectively restrict large AI companies

The California Senate has approved the SB 53 bill, a new AI security bill targeting companies that earn more than $500 million in revenue each year from AI models, and is currently awaiting the final decision of Gov. Gavin Newsom. The bill requires large artificial intelligence companies such as OpenAI and Google DeepMind to release security reports, disclose accidents to the government, and provide whistleblower protection for employees. Unlike the wider SB 1047 bill that was rejected by Newsom last year, the SB 53 bill focuses on large enterprises to avoid impacting startups and has been supported by artificial intelligence company Anthropic.