AI stocks tumble as Amodei, Altman, Musk back call to slow 'reckless' AI development
nordicinst · x · 2026-09-14
AI-linked stocks fell sharply on Monday after Anthropic CEO Dario Amodei published an essay urging the industry to slow down 'reckless' AI development, with Sam Altman, Demis Hassabis and Elon Musk publicly backing the call. SoftBank, a major OpenAI backer, slumped 13%; Korea's Kospi dropped 3%; TSMC fell 1.2%; Nasdaq futures pointed to a 1.3% decline. Amodei warned a swarm of AI agents could 'take over the entire internet' and cause hundreds of billions in damage—claims some experts dispute—while investors began pricing in a slowdown that could threaten the industry's ability to fund hundreds of billions in AI infrastructure.
Related event: AI Executives Call to Slow Development, AI Stocks Plunge Worldwide(7 posts)→
More from AGI Musings
- Model Collapse May Not Hit LLMs, But Perhaps Human Culture or Souls — generativist · 2026-10-31
- Nina Schick: who builds intelligence and how it's distributed is the defining question of our lives — NinaDSchick · 2026-10-31
- Cheap intelligence is like cheap bread — an ingredient list satire of mass-produced AI — jsuarez · 2026-10-31
- Two futures for the young in 2026: 511 job rejections by chatbot vs unlimited AI to rebuild Cisco — PeterDiamandis · 2026-10-31
- Terence Tao warns AI is nearing a dangerous threshold as models start cheating — haider1 · 2026-10-31
- Reddit stock plunges 42% in 8 trading days as CEO says AI mode no longer drives traffic — SumitGup · 2026-10-31