Global AI stocks slip on concerns over risks

{"text":[[{"start":6.332,"text":"AI-linked stocks slipped on Monday as investors fretted over scrutiny of the technology’s existential risks after the heads of leading groups including Anthropic, OpenAI and SpaceX called for a slowdown in AI development."}],[{"start":21.411,"text":"Shares of SoftBank, which owns about 13 per cent of OpenAI, fell as much as 13 per cent. South Korea’s Kospi, which includes chipmakers that supply AI companies, fell 2.8 per cent, while Japan’s Nikkei 225 index dropped 1 per cent."}],[{"start":37.87,"text":"Nasdaq 100 futures pointed to the tech-heavy US index opening 1.3 per cent lower."}],[{"start":43.37,"text":"The falls come after Anthropic’s Dario Amodei published an essay at the weekend arguing for leading AI companies to co-ordinate with each other to manage the pace of development and promote safety. OpenAI’s Sam Altman and Elon Musk of SpaceX voiced their agreement."}],[{"start":59.061,"text":"“At some point the users and the government were going to get uncomfortable,” said Pruksa Iamthongthong, head of Asia-Pacific equities at Aberdeen."}],[{"start":null,"text":"

"}],[{"start":66.96,"text":"Asian companies supplying the AI infrastructure build-out have been among the biggest winners in global stock markets this year. The chipmaker-led indices of South Korea and Taiwan are both up about 60 per cent so far this year."}],[{"start":79.401,"text":"On Monday, the memory-chip makers were hit especially hard. Shares of Kioxia, which makes Nand memory chips, dropped more than 6 per cent, while SK Hynix declined 5.8 per cent. Samsung Electronics fell 3.5 per cent, and in Taiwan, TSMC, the world’s largest chipmaker, lost 1.2 per cent."}],[{"start":98.893,"text":"Still, some investors interpreted the prospect of more oversight of AI companies as creating more predictability in the sector."}],[{"start":106.32,"text":"“What you don’t want to happen is everything goes on at breakneck speed and suddenly you get a shutdown,” said Aberdeen’s Iamthongthong. “That’s going to be a far worse situation.”"}],[{"start":115.44,"text":"In Hong Kong, shares of Chinese AI start-ups Z.AI and MiniMax slipped 7.9 per cent and 6.4 per cent respectively."}],[{"start":124.366,"text":"Analysts attributed Z.AI’s fall to an additional equity and debt issuance announced at the weekend."}],[{"start":135.04,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1789368981_6425.mp3"}