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Global artificial intelligence stocks declined sharply Monday following calls from leading AI executives for the industry to decelerate its development pace. Anthropic CEO Dario Amodei published an essay over the weekend advocating for reduced speed in advancing AI capabilities, citing safety concerns. His position received backing from other prominent tech leaders, including OpenAI CEO Sam Altman and SpaceX founder Elon Musk, creating unusual consensus on the sensitive topic.
The market reaction was swift and widespread. Memory chipmaker Micron fell approximately 5% in premarket trading, while Intel dropped nearly 6%. Nvidia declined more than 2%. In Asia, SoftBank—a major OpenAI investor—plummeted 10% in Japan, and South Korean semiconductor firms SK Hynix and Samsung Electronics dropped 6% and 4% respectively. European chipmakers and equipment suppliers including ASML, Nokia, and Infineon also experienced significant declines. Tech giants Microsoft, Amazon, and Alphabet saw modest decreases in premarket activity.
Investors worry that an industry slowdown could ripple through multiple sectors dependent on AI expansion, from semiconductor purchases to data center construction. Market analysts note that equity valuations have been largely predicated on sustained AI growth and productivity gains. However, both Amodei and Altman clarified their positions do not call for halting development entirely, with Altman emphasizing that “progress will continue” but at a measured pace with enhanced safety protocols.
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