AI Safety Concerns Sink Tech Stocks as Oil Prices Soar Above $108

Tech stocks around the world slumped on Monday after leading voices in the AI industry called for a global slowdown to address safety concerns. Dario Amodei, CEO of Anthropic, warned that AI could potentially lead a swarm of agents capable of taking over the entire internet within six to 12 months.

Nvidia, which has seen its profits soar due to its role in training AI models, fell 3.5% as the largest weight on the market. SpaceX, whose business relies heavily on AI, dropped 1.7% after Elon Musk expressed support for Amodei's proposal. Softbank Group, a major investor in OpenAI, lost 10.7% in Tokyo following similar statements from OpenAI's Sam Altman.

Amodei's warning sparked a decline in the Kospi index in South Korea, where Samsung Electronics and SK Hynix suffered significant losses. The Nasdaq composite dropped 0.9%, while the Dow Jones Industrial Average fell 159 points, or 0.3% as of 10:20 a.m. Eastern time.

However, several software companies that were previously impacted by AI-powered competitors saw gains, including Intuit, Autodesk, and Adobe. The price of Brent crude oil rose 4.2% to $109.05 due to ongoing tensions in the Middle East.