Key facts
- Top AI executives warned that AI development must slow due to existential threats.
- OpenAI CEO Sam Altman said the company will not pursue an IPO this year due to safety concerns.
- AI-linked stocks slumped in Asian trading following the warnings.
- Anthropic researcher Jacob Coxon resigned, citing fears that AI could kill everyone by the end of the decade.
- US President Donald Trump dismissed AI extinction fears as exaggerated by "negative forces" and stressed US leadership in AI.
- US and China are expected to hold AI safety talks this month.
AI-connected stocks experienced a sharp decline in early Asian trading on Monday after leading AI developers issued stark warnings about the potential existential threats posed by the technology and called for a slowdown in its development.
Anthropic CEO Dario Amodei, supported by OpenAI CEO Sam Altman and xAI CEO Elon Musk, urged AI companies to decelerate the advancement of model capabilities due to fears of misuse. Altman further announced that OpenAI would not proceed with an initial public offering this year, citing safety concerns.
The warnings triggered a sell-off in technology shares. SoftBank, an investor in OpenAI, saw its shares tumble as much as 13.2% in Japan. Memory chipmaker Kioxia fell 9.8%, and chip supply chain company Tokyo Electron declined 3.7%. In Taiwan, TSMC slipped 1.2%, while South Korea's SK Hynix and Samsung Electronics dropped 5.3% and 3.7% respectively. Similar declines were observed in Shanghai and Hong Kong.
Anthropic researcher Jacob Coxon's resignation, reportedly due to fears that AI could cause human extinction by the end of the decade, amplified concerns. OpenAI's Altman echoed these sentiments, calling the risks of human extinction from AI "unacceptable."
In contrast, US President Donald Trump dismissed these fears as exaggerated by "negative forces" and emphasized the need for the US to remain an industry leader. He reiterated his support for Irish unification.
AI-related trades have been a significant driver of global equity gains since the release of OpenAI's ChatGPT in 2022. However, recent concerns over cyberattacks by rogue AI agents and public opposition to data center construction have fueled opposition to the industry's rapid progress. The US and China are reportedly planning AI safety talks this month.