AI Warnings Rattle Tech Stocks
Nasdaq Futures Lead Market Declines
U.S. technology stocks came under pressure on Monday after leading artificial intelligence executives called for greater caution over the rapid development of advanced AI systems.
Nasdaq 100 futures led early market declines, with Nvidia shares falling more than 2% in premarket trading. Meta and Amazon also declined, while major chipmakers including Intel, AMD and Marvell Technology faced sharper losses.
The market reaction followed comments from Anthropic CEO Dario Amodei, who called for AI companies to slow the pace at which they develop increasingly capable models. xAI CEO Elon Musk and OpenAI CEO Sam Altman also expressed support for greater caution.
The concerns have prompted investors to reassess the strong rally in AI-linked companies. Billions of dollars have flowed into AI infrastructure, chips and related technologies, helping drive significant gains across the technology sector in recent years.