Technology stocks weakened Monday after Anthropic’s Dario Amodei, OpenAI CEO Sam Altman and Elon Musk endorsed a slower pace of AI development over safety concerns. Nvidia fell 3%, AMD 5%, Marvell 6%, Micron 5% and SK Hynix 7%, while CoreWeave, Nebius, Arista Networks and other AI infrastructure companies also declined. Software shares including Adobe, CrowdStrike, Fortinet, Palo Alto Networks and ServiceNow rose as investors assessed whether slower AI progress could reduce competitive threats to established providers. Oracle fell 3.3% after co-founder Larry Ellison abandoned a planned $7.5 billion equity sale, while Altman dismissed the possibility of a 2026 OpenAI IPO after previously calling an IPO this year ill-advised. Rum Group surged 22% after Anthropic was identified as the counterparty to a $13.7 billion computing-services agreement. GSK gained 3% on positive oncology data, and energy shares advanced as Brent crude moved toward $108 following a Saudi pipeline disruption. Nasdaq-100 futures had fallen 1.5% before the open, while markets also awaited the Federal Reserve’s September policy meeting, with fed funds futures pricing an 86% chance of a rate increase.