Tech stocks fall amid calls to slow AI progress

Technology stocks around the world fell on Monday after senior artificial intelligence executives called for slowing the pace of AI development, according to a report by The New York Times.

Nasdaq futures dropped 1.5%, with Nvidia, Intel and Oracle declining premarket. South Korea’s KOSPI fell over 3%, Taiwan’s TSMC slid 1.2%, and Japan’s SoftBank shed more than 10%. European chipmakers ASML and Infineon also dropped sharply. The selloff followed a blog post by Anthropic CEO Dario Amodei warning of risks from “recursive self-improvement” in frontier AI models, urging third-party safety evaluators.

Elon Musk, Sam Altman and Demis Hassabis endorsed the call. President Trump, however, rejected any slowdown, warning it could let China overtake the US in the AI race.