NVIDIA and Broadcom shares fall after AI leaders urge slowdown
Semiconductor stocks took a hit this week after big names in AI urged a slowdown on new tech. Companies like NVIDIA and Broadcom saw shares drop, pulling the Nasdaq-100 down by 1.3%.
To top it off, oil prices spiked past $108 a barrel, making investors even more nervous about inflation with the Federal Reserve's meeting around the corner.
Dario Amodei sparks mixed analyst reactions
A 3,800-word missive by Anthropic PBC Chief Executive Officer Dario Amodei, which was endorsed by OpenAI CEO Sam Altman and SpaceXAI CEO Elon Musk, asked for a slow in AI development of the most-advanced systems to avoid "catastrophic harm."
Microsoft also rolled out new guidelines putting people first in their AI plans.
This cautious vibe has some analysts worried that excitement for AI stocks could cool off, though others say these concerns might be overblown and could even help companies in the long run.