Global AI Stocks Tumble as Amodei, Altman and Musk Jointly Call for Development Slowdown
Global AI-related stocks slid sharply Monday after Anthropic CEO Dario Amodei published an essay titled "We Must Pace the Frontier," urging AI labs to deliberately slow model development over existential safety risks.
His call was quickly backed by OpenAI's Sam Altman and xAI's Elon Musk. In Asia, SK Hynix fell over 5%, Samsung dropped nearly 4%, and SoftBank plunged as much as 13% in Japan.
European chip names ASML, Infineon and Nokia also declined, while Nasdaq futures tumbled 1.6%. Nvidia, AMD, Intel and Qualcomm all slid in premarket trading. Investors fear a slowdown could ripple through massive AI infrastructure spending.
Analysts remain split — some see only short-term pressure, while others argue reduced-pace development could ultimately benefit the sector by allowing time to monetize existing buildouts.
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