AI-linked stocks fall after tech bosses call for slowdown in ‘reckless’ development

AI-linked stocks experienced a significant decline on Monday after leaders from Anthropic, OpenAI, and SpaceX urged a halt to what they termed "reckless" development of artificial intelligence. Dario Amodei, CEO of Anthropic, warned that rapid advancements could lead to uncontrollable consequences, potentially causing substantial financial damage. Shares in SoftBank, a prominent investor in OpenAI, plummeted by 13%, while the South Korean Kospi index, heavily reliant on chip manufacturers for AI, fell by 3%. In Taipei, Taiwan Semiconductor Manufacturing Company, a major global chip supplier, saw a 1.2% drop in its shares. The Nasdaq futures indicated a 1.3% decline in the tech-heavy index ahead of the US market opening. Amodei's call for a slowdown was backed by other tech executives, including Sam Altman from OpenAI and Demis Hassabis from Google DeepMind. Altman expressed his commitment to incorporating external evaluators to ensure safety in AI practices. Meanwhile, concerns regarding the rapid pace of AI development have intensified, with a cross-party group of UK MPs highlighting human rights risks associated with the technology. In contrast, US President Donald Trump dismissed the calls for a slowdown, emphasizing the need to maintain leadership in AI technology. Analysts noted that the competitive landscape in the AI sector makes it unlikely for companies to reduce their investments despite growing concerns.


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@hoju-korean.com Editorial Team