AI Stocks Worth Watching After Monday’s Safety-Driven Selloff
TLDR
- Chip stocks like Intel, Micron, and AMD fell around 5% after AI leaders called for slower development
- Anthropic CEO Dario Amodei published a blog post urging a slowdown in AI development over safety concerns
- OpenAI’s Sam Altman said the company’s IPO will not happen this year due to safety risks
- Software stocks rallied, with CrowdStrike gaining 15% and ServiceNow up 6%
- Analysts at UBS and Bank of America say AI investment is unlikely to slow in the near term
Monday was a rough day for AI hardware stocks after some of the biggest names in tech called for a slowdown in AI development. Safety concerns drove the selloff, hitting chip and memory companies hard.
Intel, Micron, and AMD all fell around 5% in the US. In Europe, ASM International dropped nearly 9%, while Infineon and BE Semiconductors fell close to 8%. South Korean chipmakers SK Hynix and Samsung closed down 4% and 6%.
The selloff was triggered by a blog post from Anthropic CEO Dario Amodei published on Saturday. He warned that AI is growing faster than safety controls can keep up with, and called for developers to slow down.
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