AI Leaders Are Calling for a Slowdown, but Wall Street Keeps on Buying
Talk of heading off AI’s potential role in destroying humanity hurt some stocks and helped others, with major U.S. indexes edging lower.
Despite a week of alarming headlines warning of the potential risks posed by AI to civilization, investors have continued to pour money into AI stocks. Industry leaders such as Dario Amodei, Sam Altman, Elon Musk and Demis Hassabis have called for a slowdown in the development of AI technology. However, Wall Street has largely ignored these warnings and instead invested more heavily in AI stocks.
Microsoft, Alphabet and Meta Platforms, three of the biggest AI-hyperscalers, all saw their shares advance by 2% or more. The market appears to believe that companies like Microsoft will still be among the most profitable worldwide, even if AI investments lose speed. Chip makers such as Micron Technology and Intel, which rely on new orders to maintain growth, have not seen a corresponding slowdown.
President Trump, who was asked about the AI slowdown, dismissed the concerns as a "hoax" and a "conspiracy." Despite these warnings, the AI investment boom shows no signs of slowing down, with many analysts believing that the warnings are a positive sign for safety while causing some short-term volatility.
Written by urgent.news from Hindustan Times - World News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
