AI stocks fall after top CEOs urge slower development of technology

Anthropic CEO Dario Amodei, in a lengthy essay shared on X on Saturday, called on AI companies to slow the rate at which they advance model capabilities amid mounting fears of misuse of AI.

Both Elon Musk, who runs xAI, and Sam Altman, CEO of OpenAI, said they agree with Amodei.

AI-linked U.S. stocks slipped Monday in premarket trading after top AI lab CEOs called for tapping the brakes on the technology's development amid safety worries.

• Chip-related companies fell: Nvidia NVDA.O slipped 2%, Advanced Micro Devices AMD.O fell 4.1%, Intel INTC.O slid 4.9%, and Marvell Technology MRVL.O toppled 5.5%.
• Micron Technology MU.O and Applied Materials AMAT.O lost 4.5%, while Broadcom AVGO.O declined 3%.
• Hyperscalers dropped: Meta META.O and Amazon AMZN.O edged down about 1%, and Oracle ORCL.N fell 2.7%.
• Alphabet GOOGL.O ticked down 0.8% while Microsoft shed 0.6%.