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yesterday

AI CEOs' Call to Slow Development Sends Tech Stocks Tumbling

The industry alarm prompted sharp stock losses, with OpenAI postponing an IPO, governments stepping up safety demands, and firms adopting new internal rules that could reshape investment and oversight.

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Overview

  • Over the weekend, Anthropic CEO Dario Amodei published a public essay and internal report warning that advanced models had been misused and urging a slower pace; Sam Altman of OpenAI and Elon Musk publicly backed the call for greater safeguards.
  • On Monday, technology and AI-linked chip stocks fell sharply across Asia, Europe and U.S. pre-markets, with SoftBank shares plunging more than 13 percent and broad weakness in chip, cloud and memory suppliers.
  • OpenAI told reporters it will not pursue an IPO in 2026, citing security concerns raised by the recent disclosures and executive warnings about misuse of models.
  • Governments reacted unevenly: President Trump dismissed slowdown calls as harmful to U.S. leadership, China accused critics of alarmism and geopolitical bias, and EU officials demanded firms prove their services are safe while Germany rejected a research freeze.
  • Policy and finance responses moved quickly as the BIS warned that heavy borrowing tied to AI investment raises systemic vulnerability, major vendors proposed internal governance measures such as Microsoft’s rule that models must accept shutdowns, and a planned U.S.-China summit this month was flagged as a likely forum for further talks.