Continued AI progress could generate substantial prosperity and societal benefits, but these may not be widely shared by default. For this reason, a number of voices have called for global AI benefit sharing: efforts to support and accelerate the spread of AI’s benefits globally. Despite these calls, how to practically implement benefit sharing remains unclear. This paper examines three categories of approaches to global AI benefit sharing: Sharing AI Development Resources, Sharing Access to Advanced AI, and Sharing Financial Benefits. We discuss the opportunities and challenges presented by each approach, considering their potential to strengthen international cooperation on AI governance, foster inclusive economic growth, and promote self-determination in AI development. We also explore key preconditions for effective benefit sharing and discuss cross-cutting challenges that would need to be addressed for successful implementation.