Fellowships and Traineeships for Early-Career AI Researchers Act This bill directs the National Science Foundation (NSF) to award grants and fellowships to support students and researchers in fields related to artificial intelligence. Specifically, the NSF must award grants to institutions of higher education to establish traineeship programs for graduate students who pursue artificial intelligence-related research leading to a masters or doctorate degree. Among other things, an institution of higher education shall use such grant funds to (1) provide traineeships to students who are pursuing research in artificial intelligence leading to a masters or doctorate degree; and (2) establish scientific internship programs for students receiving traineeships in artificial intelligence at for-profit institutions, nonprofit research institutions, or government laboratories. The NSF shall award fellowships to masters and doctoral students and postdoctoral researchers at institutions of higher education who are pursuing degrees or research in artificial intelligence and related fields, including in the field of technology ethics.