AI stocks slide after major CEOs unite to urge slowdown

Anthropic CEO Dario Amodei has called for the AI industry to slow the pace at which it improves model capabilities, citing growing concerns over risks from AI. He was joined in this call by Elon Musk, CEO of xAI, and Sam Altman, CEO of OpenAI.

The comments from the CEOs led to a sharp decline in AI-connected stocks in early Asian trading on Monday. Shares in OpenAI investor SoftBank tumbled as much as 13.2% in Japan, alongside a 9.8% plunge for memory chipmaker Kioxia and a 3.7% decline for chip supply chain company Tokyo Electron.

Declines were also seen in Taipei, where Taiwan Semiconductor Manufacturing Company slipped 1.2%, and in South Korea, where SK Hynix slid 5.3% and Samsung Electronics fell 3.7%, according to Investing.com. Altman also said OpenAI would not proceed with an IPO this year, citing safety concerns.

Brief written by urgent.news from CNBC World, CNBC Technology, The Jakarta Post, Investing.com — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.