AI Stocks Plummet as Industry Leaders Warn of Safety Concerns

Artificial intelligence stocks plummeted on Monday after industry leaders warned of a potential slowdown due to safety concerns. The warning came from Anthropic CEO Dario Amodei, who cited the risk that AI becomes capable of leading a swarm of agents that could take over the internet within six to 12 months.

The downturn in AI stocks was led by Nvidia, which sank 3.4% and was the heaviest weight on the market due to its massive size. Other prominent AI-related companies such as SpaceX, Softbank Group, and OpenAI also suffered significant losses.

Meanwhile, oil prices continued to climb, with Brent crude rising 1% to $105.68. The increase in oil prices has put pressure on inflation, leading many to expect the Federal Reserve to hike its main interest rate on Wednesday.