Share price numbers for the Hugging Face incident
…major publicly traded cybersecurity firms lost roughly $65–80 billion, or about 8–10% of their combined value, in the days following disclosure of the Hugging Face/OpenAI incident; by early September they had recovered roughly $58 billion, representing about 70–90% of that drawdown, depending on whether July 15 or July 20 is used as the pre-event baseline. […] The post Share price numbers for…
In the aftermath of the Hugging Face/OpenAI incident, several major publicly traded cybersecurity firms experienced a significant drop in stock prices, estimated to be between $65-80 billion, or 8-10% of their combined value, according to GPT Pro. This decline was briefly observed in early September, with an approximate recovery of $58 billion, representing 70-90% of the initial drawdown, depending on whether July 15 or July 20 is considered the pre-event baseline.
While some argue that this decline may not accurately reflect the true value of cybersecurity efforts, it still represents a substantial loss. The discussion suggests that the market's reaction could be influenced by the perceived risk of AI models doing "truly terrible things," potentially leading to a more severe estimate of the value of cyberprotection.
However, it is also noted that these numbers may not be sufficient to provide a comprehensive understanding of AI risk, and alternative market price-based indicators should be considered. The author expresses skepticism towards arguments that claim AI-related concerns are too significant to be reflected in market prices, urging the tracking of share values over time, particularly in light of potential future AI hack attacks.
Written by urgent.news from Marginal Revolution's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
