AI stocks slide after major CEOs unite to urge slowdown
- SoftBank Group secured an $11.87 billion loan to support its investment in OpenAI, exceeding its original $10 billion target, according to people familiar with the matter.
- The Japanese conglomerate is slated to invest close to $65 billion in OpenAI by October, while simultaneously repaying a $40 billion loan it obtained earlier this year.
- Shares of SoftBank plummeted 11.2% on Monday after OpenAI Chief Executive Officer Sam Altman and Anthropic CEO Dario Amodei called for slower AI development to ensure safety.
- In a Fortune interview published Saturday, Altman confirmed OpenAI will not proceed with an initial public offering this year, citing safety-related concerns as the primary reason.
- SoftBank faces investor concerns regarding growing credit risks in the artificial intelligence sector while considering a bond sale of up to $20 billion, Morningstar researcher Dan Baker said.
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334 Articles
PODD Last week, a former researcher at Anthropic came out and wrote that we need to slow down AI development. He was supported by CEO Dario Amodei and Open AI's Sam Altman. But why are they doing this now?
The call by the head of AI company Anthropic to release new powerful AI models at a slower pace is drawing criticism from within and outside the AI sector. "If you really think it's so important to slow down, then do it," says an influential advisor to US President Donald Trump, among others. Anthropic CEO Dario Amodei published an article on Saturday in which he writes that the leaders of the AI industry must slow down, but that support from t…
'So striking': Trump's 'little robot' quip amid AI uproar alarms analyst
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