Asian Shares Are Mixed and OpenAI Investor SoftBank Shares Plunge After Calls to Slow AI Industry
SoftBank’s slide reflected investor concern that regulators may slow AI development, while other Asia tech shares also fell, analysts said.
- Asian markets were mixed Monday as SoftBank Group shares plummeted 11.2% following calls from OpenAI CEO Sam Altman and CEO Dario Amodei to slow AI development for safety.
- Other technology stocks in Asia also declined on Monday, with Kioxia Holdings sinking 6%, Hynix falling 5.3%, and Taiex dropping 0.6%.
- Dan Baker of Morningstar said SoftBank's slide "probably reflects the possibility that AI development may be slowed by regulators," while Altman told Fortune on Saturday his firm will not launch an initial public offering this year.
- Oil prices gained more than 3% early Monday as Iran-backed Houthi rebels stepped up attacks on Saudi Arabia, with Brent rising 3.2% to $107.94 per barrel.
- ING strategists Warren Patterson and Ewa Manthey wrote Monday the situation in the Hormuz remains fluid, as "sizeable" volumes of oil continue moving through the waterway despite supply concerns.
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SoftBank shares tumble after AI chiefs sound alarm on safety
SoftBank fell more than 13% Monday in Tokyo, their biggest intraday decline since late June. That’s as the company’s credit default swaps widened to the highest level since March 30, nearing three-year highs
Asian shares are mixed and OpenAI investor SoftBank shares plunge afte
HONG KONG (AP) — Asian shares were mixed Monday, as shares of Japanese investment conglomerate SoftBank Group, a key investor in OpenAI, fell more than 10% following calls from Anthropic and OpenAI to slow AI development for
Asian shares are mixed and OpenAI investor SoftBank shares plunge after calls to slow AI industry
HONG KONG (AP) — Asian shares were mixed Monday, as shares of Japanese investment conglomerate SoftBank Group, a key investor in OpenAI, fell more than 10% following calls from Anthropic and OpenAI to slow AI development for safety.
Asian shares mixed as SoftBank plunges on AI slowdown concerns
Asian shares were mixed Monday, as shares of Japanese investment conglomerate SoftBank Group, a key investor in OpenAI, fell more than 10 per cent following calls from Anthropic and OpenAI to slow AI development for safety.
SoftBank shares tumble 13% as OpenAI, Anthropic raise AI safety alarm - BusinessToday
SoftBank shares: The fall in the Japanese market behemoth came as growing concerns over the pace of artificial intelligence development added to investor anxiety surrounding the Japanese technology conglomerate’s aggressive AI strategy.
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