Tech executives from major AI firms have sparked a market downturn by warning of risks from unchecked AI development, prompting a sharp sell-off in AI-linked stocks across Asia. Investors reacted strongly to concerns about potential instability in the technology sector, with shares in key backers and suppliers plummeting. The Nasdaq is also expected to reflect the broader decline as fears over rapid AI advancement grow. The move underscores growing tensions between innovation and regulatory caution in the industry.
Shares in tech firms tumble across Asia with Nasdaq also likely to dip later after Anthropic, OpenAI and SpaceX leaders back callBusiness news – live updatesAI-linked stocks tumbled on Monday after the bosses of Anthropic, OpenAI and SpaceX called for a slowdown in “reckless” development citing fears the technology could soon run out of control.Shares in SoftBank, a Japanese investor that is a big backer of OpenAI, slumped 13%, while the South Korean Kospi stock index, which relies heavily on chip makers that supply AI companies, dropped by 3%. Continue reading...
