Tech Stocks Slide on Calls to Slow AI Development; Bitcoin, Ether Gain 1%

Forecast Trend Report by Period

Global technology shares weakened after leading artificial intelligence executives called for a slower pace of AI development, while Bitcoin and Ether posted gains.

CoinDesk reported on September 14 that technology and AI-related stocks fell broadly ahead of the U.S. market open. The Invesco QQQ Trust ETF, which tracks the Nasdaq-100 Index, dropped 1.5% in premarket trading.

Losses were steeper among AI infrastructure companies. Nebius and CoreWeave fell 6% and 5%, respectively, while chipmakers Sandisk and Intel each lost about 5%. In South Korea, the Kospi fell more than 3%, and SK Hynix, a supplier of AI memory chips, tumbled more than 6%.

The selloff in tech shares came as calls to rein in the pace of AI development spread over the weekend. Anthropic Chief Executive Officer Dario Amodei argued that AI development should slow to allow time for safety measures, a view that OpenAI Chief Executive Officer Sam Altman and Elon Musk also backed.