AI-linked stocks slump after top lab CEOs call for slowing technology’s development

SINGAPORE: AI-connected stocks fell sharply on Monday after the CEOs of the U.S. companies developing the most advanced AI models warned the pace of development must slow to prevent threats to humanity.

Nasdaq e-mini futures fell 1.3% during Asian trade. Shares in ChatGPT-maker OpenAI’s investor SoftBank tumbled as much as 13.2% in Japan.

Anthropic CEO Dario Amodei, in a lengthy essay shared on X on Saturday, ‌called on AI companies ⁠to slow ⁠the rate at which they advance model capabilities amid mounting fears of misuse of artificial intelligence. Both Elon Musk, who runs xAI, and Sam Altman, CEO of OpenAI, said that they agree with Amodei.