AI fears push GE Vernova and CG Power stocks down
Power-focused stocks like GE Vernova T&D India and CG Power just dropped nearly 9% and 8%, respectively, in two days.
Investors are suddenly nervous about how risky unchecked artificial intelligence could be, especially after these stocks had been on a roll thanks to India's booming data center scene earlier this year.
Amodei, Altman AI warnings shake markets
Big names in AI, like Anthropic's Dario Amodei and OpenAI's Sam Altman, are warning about what could happen if AI development goes off the rails.
Amodei even mentioned scenarios where AI might take over the internet, and Altman stressed that too much power shouldn't end up in one place.
These concerns have shaken confidence in tech-driven growth, leading to market swings and putting pressure on power capex stocks that were riding high on tech demand.