Trump Dismisses AI Concerns as Tech Stocks Dip
Nasdaq futures fell 1.5% and SoftBank dropped 11% as investors reacted to warnings from AI leaders about rapid development.
- On Monday, global tech stocks fell as industry leaders urged slower development of artificial intelligence, with Nasdaq futures dropping 1.5% and Japan's SoftBank falling 11%.
- Anthropic CEO Dario Amodei urged developers to "pace" advancement, fearing developers risk "losing control of AI systems," while OpenAI CEO Sam Altman and Microsoft CEO Satya Nadella emphasized shared safety standards.
- Warning that major firms are "gambling with our lives," former Anthropic researcher Jacob Coxon told CBS News last Thursday that neither company is acting responsibly.
- Congressional leaders agreed Sunday on the need for AI guardrails to ensure safety, though House Speaker Mike Johnson stated developers—not Congress—should ensure product safety while maintaining U.S. dominance over China.
- Semiconductor manufacturers faced significant losses Monday morning as Nvidia dropped more than 3%, Intel fell nearly 6%, and The Philadelphia Stock Exchange's semiconductor index declined 5.5%.
20 Articles
20 Articles
Tech Leaders Try to Telegraph AI Concerns Without Spooking Investors
The debate over how far, and how fast, artificial intelligence is advancing poses a serious dilemma for tech executives. They’re keen to telegraph their concerns about the technology’s potential perils and have offered various remedies that include slowing down its development. But having plowed hundreds of billions of dollars into AI, they’re trying to calm people down without spooking investors and customers.The debate intensified last week when Anthropic PBC researcher Jacob Coxon resigned a
Melius’ Ben Reitzes on the impact of AI leaders’ calls for a slowdown on the tech trade
Ben Reitzes, head of technology research at Melius Research, joins ‘Squawk on the Street’ to discuss how prominent leaders' calls for a slowdown of the development of AI capabilities are impacting the tech trade and more.
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