Yahoo Finance
Tech stocks fell on Monday, as AI industry leaders raised concerns about the future of the technology and its potential to harm humans.
The Nasdaq fell roughly 0.8% in early trading.
The Philadelphia Semiconductor Index fell more than 4%.
The episode began last week when an Anthropic researcher announced he was leaving the company via a post on X, saying he didn't feel it was doing enough to keep AI in check.
Anthropic Alignment Science Lead, Evan Hubinger, responded the post saying the former Anthropic worker is correct and that he believes there is a greater-than-10 % chance that the technology could "kill all humans." On Saturday, Anthropic CEO Dario Amodei posted an essay responding to the posts, calling on AI companies to slow the pace of frontier AI development.
And on Monday, Reuters reported that Microsoft is developing its own code of conduct for its AI models.
The various announcements raised questions about whether the AI buildout will continue at its breakneck pace, or if slowing frontier AI models could cut into it.
One sector poised to capitalize on rising concerns about AI safety looks to be cybersecurity stocks.
Shares of top cybersecurity names popped in premarket trading amid fresh warnings from the biggest names in AI within the past two days.
Okta (OKTA) shares gained 5%, CrowdStrike (CRWD) advanced 4.5%, and Palo Alto Networks (PANW) increased 4.5%.
The gains likely reflect these companies seeing an even faster pace of growth as companies double down on protecting their infrastructure.
The positive action stands in stark contrast topullbacks across the AI complex today.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
Comments
Post a Comment