Anthropic’s AI Warning Seen as Setback for Chip Stocks
AI executives' calls to slow development of the technology are likely to weigh on chipmaker and supply-chain stocks in the near term. Bloomberg's Sunny Bangia and Anthony Stephens break down the news. (Source: Bloomberg)
Market strategists predict that AI executives' calls to slow down technology development will cause short-term setbacks for chipmaker and supply-chain stocks, but will have limited long-term impact due to strong spending on computing infrastructure. Samsung Electronics Co. and SK Hynix Inc., both South Korean memory makers, saw their shares fall as much as 4.1% and 5.8%, respectively, in response to the cautious approach to developing advanced models.
Advantest Corp., a Japanese chip equipment maker, and Kioxia Holdings Corp., a storage maker, also experienced declines of 4.7% and 9.3%, respectively. Anthropic CEO Dario Amodei announced additional safety measures, including independent third-party evaluations, and urged the broader industry to slow down the pace of advanced model development, with OpenAI CEO Sam Altman and xAI CEO Elon Musk expressing support for the proposal.
Despite concerns over the vast sums being poured into AI development, many investors believe the latest developments will not have long-lasting effects on the industry, as demand for chips, energy, and computing power continues to outstrip supply.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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