AI Stocks Plummet Amid Global Slowdown Concerns
The global stock market experienced a mixed day on Monday, with AI stocks taking a significant hit. The Dow Jones Industrial Average dropped by 152 points or 0.3%, while the Nasdaq composite sank by 147 points or 0.6%. In contrast, the S&P 500 slipped by only 37 points or 0.5%.
The decline in AI stocks was largely due to concerns about the rapid development of artificial intelligence technology. Anthropic CEO Dario Amodei warned over the weekend that a global slowdown is needed for the safety of humanity, citing risks such as AI becoming capable of taking over the entire internet within six to 12 months.
Nvidia, whose profits have soared due to its chips helping train AI models, sank by 3.4%, while SpaceX fell by 2% after Elon Musk expressed support for Amodei's views. Softbank Group lost 10.7% in Tokyo following similar statements from OpenAI's Sam Altman.