Global AI stocks tumble as industry’s biggest names sound the alarm
Markets are spooked as most AI and AI-adjacent companies rely on debt and circular financing.
On September 14, AI-linked stocks experienced a global sell-off as leaders of major artificial intelligence companies voiced concerns about the risks associated with rapid development. The downturn affected various industries, with chip stocks leading the decline. Companies like Nvidia, Advanced Micro Devices, and Micron Technology witnessed significant losses, while SpaceX and Bloom Energy also saw a drop in their stock prices.
European tech stocks declined by 2.2%, and tech utilities such as Bloom Energy and GE Vernova experienced substantial declines. Investors are concerned about potential slowdowns in AI spending, which have driven global markets to record highs. The risk of misuse of AI and the possibility of AI agents causing billions of dollars in damage within six to 12 months were highlighted by Anthropic CEO Dario Amodei.
Other industry leaders, including Elon Musk and Sam Altman, echoed these concerns. Despite some skepticism from investors, major players like Anthropic are advancing their public debuts, with discussions underway to attract Nvidia as an anchor investor.
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