Epistemic status: speculative
Andrew Yang understands AI X-risk. Tom Steyer has spent $7 million on adds in early primary states, and it has had a big effect:
If a candidate gets more than 15% of the vote in Iowa (in any given caucus), they get delegates. Doing that consistently in many caucuses would be an important milestone for outsider-candidates. And I'm probably biased because I think many of his policies are correct, but I think that if Andrew Yang just becomes mainstream, and accepted by some "sensible people" after some early primaries, there's a decent chance he would win the primary. (And I think he has at least a 50% chance of beating Trump). It also seems surprisingly easy to have an outsize influence in the money-in-politics landscape. Peter Thiel's early investment in Trump looks brilliant today (at accomplishing the terrible goal of installing a protectionist).
From an AI policy standpoint, having the leader of the free world on board would be big. This opportunity is potentially one that makes AI policy money constrained rather than talent constrained for the moment.
This is closer to what seems compelling to me.
Not so much "Oh man, Yang is ready to take immediate action on AI alignment!"
More "Huh, Yang is open to thinking about AI alignment being a thing. That seems good + different from other candidates."
This could be ameliorated by having the funder not extract any promises, and further by the funder being explicit that they're not interested in immediate action on the issue.