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AI stocks slide after major CEOs unite to urge slowdown
Global AI-related stocks fell on Monday after Anthropic CEO Dario Amodei called for a slowdown of the development of AI capabilities, with other major tech figures backing the proposal.
Investors are concerned that an industry-wide slowdown in AI development could have ripple effects for companies across the sector and curb adoption.
In Asia, South Korean heavyweights SK Hynix and Samsung Electronics closed down more than 6% and 4%, respectively. Shares of SoftBank, one of the biggest investors in OpenAI, fell 10% in Japan.
In Europe, semiconductor and other AI-related stocks also fell sharply in early trading. Chip equipment giant ASML fell more than 4%, Nokia was down around 5%, and Infineon dropped more than 6%. Other companies with business ties to the buildout of data centers, such as Siemens Energy and Schneider Electric, were also lower.
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