Wall Street: Tech stocks plummet after AI disaster warnings
Investors are reacting with concern to the demands made by the CEOs of Anthropic and OpenAI to slow down AI development. Analysts take a more nuanced view.
Shares of AI-related companies plummeted on Monday at the Wall Street and other global stock exchanges, following warnings from industry leaders about the need to slow down AI development to ensure safety. Anthropic CEO Dario Amodei, OpenAI CEO Sam Altman, and Elon Musk, head of xAI, had called for caution in an essay and subsequent endorsements over the weekend.
Investors reacted swiftly, driving down stock prices, with Samsung and SK Hynix falling by 4% and 7% in Asia, and Softbank, an OpenAI investor, dropping by 11%. In Europe, Infineon lost over 7% and ASML closed down more than 6%.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
