AI stocks slide after top industry CEOs call for slowdown of technology’s development | CNN Business

London —

AI-linked stocks tumbled Monday after the CEOs of some of the companies developing the most advanced AI models called for a slowdown in the technology’s development to allow for more guardrails to be put in place.

Nasdaq futures fell 1.8%, dragged down by premarket declines in chipmakers Nvidia and Intel. Shares in SoftBank, which is invested in ChatGPT-creator OpenAI, closed nearly 11% lower in Japan. South Korea’s Kospi sank 3.3%, hurt by a 6.4% fall in chipmaker SK Hynix. In Europe, Dutch semiconductor manufacturer ASML was down 6%.

The downward moves come after Dario Amodei, the CEO of Anthropic, which is behind AI chatbot Claude, called for a slowdown in the pace at which the technology advances in a lengthy essay shared on X.

“AI brings risks, and because it is such a powerful technology, these risks are serious,” he said. “They include the risk of losing control of AI systems, misuse of AI for cyberattacks and bioterrorism, and serious economic disruption.”