Bitcoin Bucks Risk Aversion Trend as Tech Stocks Plummet on AI Concerns

Bitcoin managed to eke out small gains on Monday, bucking a trend of risk aversion in global markets. U.S. technology and artificial intelligence stocks fell in pre-market trading after leading CEOs expressed concerns over the pace of AI development.

Dario Amodei, CEO of Anthropic, called for the industry to slow down its development to allow safety measures to catch up. OpenAI's Sam Altman and Elon Musk agreed with this assessment, citing the need for caution in the rapidly advancing field of AI.

The tech sector as a whole took a hit, with the Invesco QQQ ETF dropping 1.5% in pre-market trading. Chipmakers Sandisk and Intel also saw losses, falling 5% each. The price of oil surged, with Brent crude climbing over 3% to $107 per barrel.