AI-linked stocks fall after call for development slowdown worries investors – business live
Summary
Stocks in companies linked to artificial intelligence (AI) dropped after several top AI leaders, including OpenAI’s CEO and Elon Musk, asked for a slowdown in AI development to ensure safety. Investors worry that this pause could hurt the fast growth and investment needed for AI technology, especially in data centers.Key Facts
- Asian AI-linked stocks fell, with South Korea’s KOSPI index down 3.7% and SK Hynix shares dropping 5.75%.
- SoftBank shares dropped up to 13% after OpenAI’s CEO said the company will not go public in 2024.
- Taiwan Semiconductor Manufacturing Company shares fell by 1.2%.
- AI leaders like Anthropic’s CEO Dario Amodei warned that developing AI too fast is risky and could cause major damage.
- Some experts disagree with the call to slow AI, but investors are worried about a slower growth in AI.
- Analysts say a slowdown could affect companies paying for expensive data centers and raise financial risks.
- Some believe the calls for a pause may be a way to focus more on AI safety rules without stopping spending overall.
- President Donald Trump expressed opposition to slowing AI development, noting global competition, especially from China.
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