AI Leaders Sound Alarm, Oil Prices Soar Amid Middle East Tensions
US stocks took a hit on Monday as leaders in the AI industry called for a slowdown due to safety concerns. Anthropic CEO Dario Amodei warned that if AI becomes capable of leading a swarm of agents, it could take over the entire internet within six to 12 months.
Nvidia, whose profits have soared thanks to its chips used in training AI models, sank 3.5%. Softbank Group, a major investor in OpenAI, lost 10.7% after its CEO Sam Altman supported the concept of a slowdown and hinted that OpenAI might delay its stock sale until next year.
On the other hand, oil prices jumped as fighting in the Middle East continues to squeeze global oil supplies. The price for Brent crude rose 4.2% to $109.05, while stocks in the oil industry, such as ExxonMobil, gained 1.3%.