AI stocks slide after major CEOs unite to urge slowdown
SoftBank slid more than 10% and chipmakers fell as investors reacted to calls from Anthropic and OpenAI to slow AI development for safety.
- SoftBank Group secured an $11.87 billion loan to support its investment in OpenAI, exceeding its original $10 billion target, according to people familiar with the matter.
- The Japanese conglomerate is slated to invest close to $65 billion in OpenAI by October, while simultaneously repaying a $40 billion loan it obtained earlier this year.
- Shares of SoftBank plummeted 11.2% on Monday after OpenAI Chief Executive Officer Sam Altman and Anthropic CEO Dario Amodei called for slower AI development to ensure safety.
- In a Fortune interview published Saturday, Altman confirmed OpenAI will not proceed with an initial public offering this year, citing safety-related concerns as the primary reason.
- SoftBank faces investor concerns regarding growing credit risks in the artificial intelligence sector while considering a bond sale of up to $20 billion, Morningstar researcher Dan Baker said.
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The call to slow down the development of artificial intelligence (AI) by several major players in the sector already has repercussions on the price of Asian companies that supply the electronic components needed for the AI, says Olivier Pinaud, journalist at the "World Economy" service.
Investors dropped AT&S, Intel and Micron on Monday and agreed with cybersecurity shares such as Crowdstrike and Palo Alto. How sustainable is this rotation?
SoftBank share price tumbles 14%| What investors need to know
SoftBank Group Corp shares fell over 14% in Tokyo amid investors' concerns about its significant AI investments. The decline follows cautious remarks from AI leaders and reflects worries over potential delays in OpenAI’s IPO and the future valuation of AI ventures.
AI Stocks Plunge After Sam Altman, Elon Musk Back Calls to Slow Development
نُشر هذا المقال أولاً عبر Cedarnews.net. لمتابعة المزيد من الأخبار والتقارير الحصرية، زورونا على موقعنا. AI-linked stocks are falling sharply Monday after some of the industry’s most powerful leaders warned that artificial intelligence development may need to slow because of growing safety risks. SoftBank, one of OpenAI’s biggest investors, plunged more than 10%, while shares of major chipmakers including SK Hynix, Samsung Electronics and TSMC a…
The major Dutch chip companies have all taken a sharp dive on the stock market after AI leaders warned this weekend about the ‘dangerous’ development of the technology. ASML, Besi, and ASM are all down 5 to over 9 percent on the Amsterdam stock exchange.
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