AI stocks fall as CEOs urge slower development; Bitcoin rises 1%

  • U.S. technology and AI stocks fell pre-market as executives raised development-safety concerns.
  • Bitcoin gained about 1% to $77,800, while ether added 1% to $2,500.
  • South Korea’s Kospi fell 3%, while Brent crude climbed more than 3% to $107.

U.S. technology and artificial intelligence stocks fell in pre-market trading Monday after Anthropic CEO Dario Amodei called for slower AI development so safety measures can catch up. OpenAI CEO Sam Altman and Elon Musk, whose xAI developed Grok, agreed with the concern. Cryptocurrencies moved in the opposite direction: Bitcoin rose about 1% over 24 hours to $77,800, while ether gained 1% to $2,500. Anthropic reportedly selected Nasdaq for its anticipated IPO (initial public offering), while Altman said OpenAI will not go public in 2026. The market decline extended from South Korea, where the Kospi fell 3% and SK Hynix dropped 6%; SK Hynix supplies memory chips used by AI companies. The Invesco QQQ ETF, which tracks the Nasdaq 100 index, fell 1.5% before the U.S. market opened. Neocloud providers Nebius and CoreWeave dropped 6% and 5%, respectively, while Sandisk and Intel each lost 5%. Rising energy prices added pressure, with Brent crude up more than 3% to $107 a barrel and WTI above $103. Longer-dated Treasury yields edged lower, with the 10-year yield just below 5% and the 30-year yield at 5.355%. Gold fell almost 1% to about $4,300 an ounce, while silver declined 1.5%.

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AI stocks fall as CEOs urge slower development; Bitcoin rises 1% - CoinPost Terminal