SoftBank, AI-linked stocks slide as top AI CEOs urge slower development

  • SoftBank shares fell as much as 13.2% after leading AI executives urged slower development.
  • 13.2% was SoftBank's maximum decline during early trading in Japan.
  • OpenAI CEO Sam Altman said the company would not pursue an IPO this year.

SoftBank shares fell as much as 13.2% in Japan after Anthropic CEO Dario Amodei urged AI companies to slow the development of increasingly capable models, with Elon Musk, who runs xAI, and OpenAI CEO Sam Altman agreeing. Altman also said OpenAI would not pursue an IPO this year because of safety concerns. Kioxia, Tokyo Electron, SK Hynix, Samsung Electronics and Taiwan Semiconductor Manufacturing Company declined, while AI-linked companies fell in Shanghai and Hong Kong. The selloff followed an Anthropic threat-intelligence report detailing misuse of its Claude models for weapons development, cyber operations, surveillance and fraud. Market sentiment was also weakened by uncertainty surrounding the Middle East, while analysts cited weekend calls for slower AI development as a factor behind the pressure on technology shares.

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SoftBank, AI-linked stocks slide as top AI CEOs urge slower development - CoinPost Terminal