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Tech Stocks Slide After AI Industry Leaders Call for Slower Development
Shares of major tech and chip companies fell across Asia, Europe and US futures markets after a rare public alignment among AI industry leaders, including OpenAI's Sam Altman and Anthropic's Dario Amodei, calling for the pace of AI development to slow over safety concerns, while President Trump downplayed the risks and emphasized US competitiveness against China.
AI-synthesized from the cited sources below.
Tech stocks tumbled across global markets after several prominent artificial intelligence industry leaders called over the weekend for a slowdown in the pace of AI development, citing safety concerns. Anthropic CEO Dario Amodei said development should be slowed to reduce the risk that something goes seriously wrong, in a rare show of public agreement among Big Tech executives that included OpenAI CEO Sam Altman and SpaceX CEO Elon Musk.
The market reaction was swift: Nasdaq futures fell 1.5 percent, shares of Japan's SoftBank closed nearly 11 percent lower, South Korea's Kospi index sank 3.3 percent as chipmaker SK Hynix dropped 6.4 percent, and Dutch semiconductor equipment maker ASML fell 6 percent in European trading. Altman said no amount of competitive pressure from the United States should justify recklessness or allow AI capabilities to outpace alignment and monitoring efforts. President Donald Trump downplayed the safety concerns, instead emphasizing America's technological lead over China and stating that whoever wins the AI race wins more broadly, underscoring a divide between industry calls for caution and the administration's competitive posture.
Key facts
- AI industry leaders including Sam Altman, Dario Amodei and Elon Musk called for slower AI development over safety concerns
- Nasdaq futures fell 1.5%; SoftBank dropped nearly 11% in Japan; South Korea's Kospi sank 3.3%
- Chipmaker SK Hynix fell 6.4%; Dutch semiconductor firm ASML dropped 6% in Europe
- Altman said competitive pressure should not justify letting AI capabilities outpace safety alignment
- Trump downplayed safety concerns, emphasizing US competitiveness against China in AI
Sources
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