On Monday, global AI-related stocks experienced a sharp decline following a public appeal from Anthropic CEO Dario Amodei for a slowdown in AI capabilities development. This sentiment was echoed by other tech leaders, including OpenAI's Sam Altman and SpaceX's Elon Musk, who expressed agreement with the need to 'pace the frontier' of AI advancements.
In Asia, major companies like SK Hynix and Samsung Electronics saw their shares drop by more than 6% and 4%, respectively, while SoftBank's stock fell 10% in Japan. European markets also reacted negatively, with semiconductor firms such as ASML and Infineon declining over 4% and 6%.
In the U.S., premarket trading showed similar trends, with Micron and Intel down around 5% and nearly 6%, respectively. The sell-off was fueled by heightened concerns regarding the risks associated with rapidly advancing AI technologies, particularly after alarming statements from former Anthropic researcher Jacob Coxon about the potential dangers of AI.
Analysts, including Zoe Gillespie from RBC Brewin Dolphin, warned that a slowdown in AI development could destabilize equity markets, as much of the recent market rally has been predicated on anticipated growth and productivity gains from AI technologies