Dario Amodei slowdown plea rattles AI stocks, Muse sparks rebound
The stock market's been pretty jumpy lately, mostly because of all the talk around artificial intelligence.
Things got especially tense after Anthropic CEO Dario Amodei called for a slowdown in development of cutting-edge AI models, a move backed by OpenAI CEO Sam Altman and SpaceX CEO Elon Musk.
That announcement triggered a big sell-off in AI-related stocks and sent the Nasdaq-100 index down.
But soon after, excitement about the popularity of Meta Platforms Inc.'s Muse personal assistant helped turn things around.
Nasdaq-100 swings $600B loss, $3T gain
Meta Platforms Inc.'s Muse personal assistant sparked fresh excitement for AI stocks, but not everyone benefited: companies relying on subscriptions like Charter and Planet Fitness actually saw their shares drop over worries about how AI might shake up their business.
Meanwhile, CoreWeave's stock took a hit following the call to slow down AI progress.
The Nasdaq-100 lost more than $600 billion during the dip but bounced back with Meta's news, adding $3 trillion, showing just how quickly tech developments can move markets these days.