Tech stocks fall as AI slowdown calls spread, while Bitcoin and Ether rise 1%

  • Technology stocks fell as executives supported slowing the pace of AI development.
  • Bitcoin rose about 1% to $77,800, while Ether gained 1% to around $2,500.
  • Brent crude rose more than 3% to $107 as Treasury yields remained elevated.

Technology and AI-related stocks declined broadly as Anthropic Chief Executive Officer Dario Amodei called for a slower pace of AI development to allow more time for safety measures. OpenAI Chief Executive Officer Sam Altman and Elon Musk also backed the view. The Invesco QQQ Trust ETF, which tracks the Nasdaq-100 Index, fell 1.5% in premarket trading on September 14, while AI infrastructure companies Nebius and CoreWeave dropped 6% and 5%. Chipmakers Sandisk and Intel each lost about 5%, and South Korea's Kospi fell more than 3% as SK Hynix tumbled more than 6%. Bitcoin rose about 1% over 24 hours to $77,800, while Ether gained 1% to around $2,500, diverging from technology stocks. Broader risk assets faced pressure from oil prices, with Brent crude rising more than 3% to $107 a barrel and West Texas Intermediate climbing above $103. The 10-year U.S. Treasury yield remained just below 5%, while the 30-year yield stood at 5.355%. Gold fell about 1% to around $4,300 an ounce and silver declined 1.5%.

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