Shares in artificial intelligence-related companies fell sharply across Asian markets on Monday, after some of the industry's most prominent chief executives warned that the breakneck pace of AI development needs to slow down.
Anthropic's co-founder Dario Amodei called for AI firms to rein in how quickly they push forward the capabilities of their models, citing growing concern about misuse of the technology.
Elon Musk, head of SpaceXAI, and OpenAI's Sam Altman both said they shared Amodei's concerns. Altman later confirmed that OpenAI would not go ahead with a stock market listing this year, pointing to safety worries.
In Tokyo, shares in SoftBank, a major OpenAI investor, plunged as much as 13.2 per cent, while memory chipmaker Kioxia dropped nearly 10 per cent and Tokyo Electron fell 3.7 per cent.
Analysts warned of further drops in share prices. “Selling pressure is likely to hit AI and semiconductor-related stocks in Tokyo following a series of weekend comments calling for a slowdown,” said Takayuki Miyajima of Sony Financial Group.
Chinese and Hong Kong-listed AI firms were also hit hard, with chatbot developer Z.ai tumbling over 10 per cent following a discounted share sale.
Last week, Anthropic published a report detailing how its Claude models had been exploited for activities including weapons development and cyberattacks. One of the firm’s researchers, Jacob Coxon, resigned on 8 September, warning that AI could “kill us all by the end of the decade.” Altman separately described the risk of human extinction from AI as “unacceptable.”
The European Union has seized on the moment to push for international regulation. Commission Executive Vice President Henna Virkkunen said global rules were “really needed,” noting that while EU law already compels firms to assess loss-of-control risks, no such requirement exists worldwide.
Germany's Digital Minister Karsten Wildberger has proposed a global watchdog for AI safety modelled on the UN nuclear watchdog, the IAEA. The U.S. and China are expected to hold safety talks this month.
However, U.S. President Donald Trump has dismissed AI critics as “very negative forces,” insisting the U.S. must remain the industry's leader.
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Russian strikes on Ukraine overnight killed at least two people and injured 15 others, including two children, Ukrainian authorities said. Meanwhile, Russia said it had intercepted the vast majority of 630 Ukrainian drones launched towards Moscow.
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