Leading AI figures are calling for a slower pace of development, and the markets are listening. Anthropic CEO Dario Amodei published an essay urging caution, and OpenAI CEO Sam Altman agreed. The call to slow down sparked a sharp sell-off in tech and memory stocks. Micron dropped 6 percent and SK Hynix fell 7 percent in one day. The Nasdaq declined about 1 percent, with AI infrastructure suppliers hit the hardest. However, no major company has announced plans to cut spending.
The debate over AI's future extends beyond Wall Street. President Donald Trump has stated the U.S. must stay ahead of China in artificial intelligence. He opposes slowing development and calls for smart regulation that does not hurt innovation. Boom Supersonic CEO Blake Scholl also weighed in, saying current laws already provide ways to handle AI issues. He argues that slowing progress too much could harm technological advancement.
On the consumer side, Apple is changing how it handles data for AI training. Starting with iOS 27 on September 14, users will be asked to opt in to share data for Siri and Apple Intelligence. Previously, Apple said it did not need user data for Siri. The collected data may be reviewed by Apple employees or outside companies. Apple Watch conversation data inclusion remains unclear.
AI is also reshaping the job market and creative industries. A Federal Reserve Bank survey shows 60 percent of service firms in New York City now use AI. Entry level tech job ads have dropped by half since 2022, though most companies using AI are hiring more workers overall. Meanwhile, AI-generated books are hurting human authors on Amazon. Over three years, the number of books with sales grew 19.2 times, but revenue only grew 8.9 times, making it harder for human-written books to be found.
Key Takeaways
- Anthropic CEO Dario Amodei and OpenAI CEO Sam Altman have called for slowing AI development
- Memory stocks fell sharply, with Micron dropping 6 percent and SK Hynix falling 7 percent
- The Nasdaq dropped about 1 percent while the S&P 500 and Dow each fell 0.6 percent
- Apple will require users to opt in to data training for Siri starting with iOS 27 on September 14
- 60 percent of service firms in New York City now use AI according to a Federal Reserve Bank survey
- Entry level tech job ads have dropped by half since 2022
- President Trump opposes slowing AI development and wants the U.S. to lead globally
- Boom Supersonic CEO Blake Scholl says current laws already address many AI concerns
- AI-generated books on Amazon grew 19.2 times in three years while revenue only grew 8.9 times
- About $1 trillion will be spent on AI this year according to industry estimates
AI slowdown may help second tier chip companies
Anthropic CEO Dario Amodei wants guardrails to protect against AI threats. This oversight would shift investment from developing to deploying AI models. About $1 trillion will be spent this year. Companies competing with Nvidia and SK Hynix could benefit from the slowdown.
AI frontier slowdown may boost second tier firms
Anthropic CEO Dario Amodei wants guardrails to protect against AI threats. This oversight would shift investment from developing to deploying AI models. About $1 trillion will be spent this year. Companies competing with Nvidia and SK Hynix could benefit from the slowdown.
Apple changes course on using customer data for AI training
Apple will ask users to opt in to data training for Siri starting with iOS 27 on September 14. Users will see a prompt with agree or not now options. Apple says it takes steps to protect personal data. The collected data may be reviewed by Apple or outside personnel. Apple Watch conversation data may or may not be included.
Apple changes course on using user data to train AI
Apple is changing its approach to AI training with iOS 27. It will ask users to opt in to share data for Siri and Apple Intelligence. Apple previously said it did not need user data for Siri. Review personnel may include Apple employees or outside companies. Apple Watch conversation data inclusion is unclear.
AI devours entry level tech jobs while experienced workers keep theirs
AI adoption is rising in New York City. A Federal Reserve Bank survey shows 60% of service firms now use AI. Entry level tech job ads have dropped by half since 2022. Companies using generative AI offered average salaries around $89,000 to new hires. Most companies using AI are hiring more workers, not cutting jobs.
Trump shares his views on AI and China competition
President Donald Trump says the U.S. must stay ahead of China in artificial intelligence. He opposes slowing AI development and calls for smart regulation that does not hurt innovation. He believes AI investments will create many jobs for workers like engineers and electricians. Trump also wants the U.S. to become an AI export powerhouse. His comments come as AI leaders debate safety risks and the pace of progress.
Boom Supersonic CEO sees good in AI despite doom talk
Boom Supersonic CEO Blake Scholl spoke about the debate over government AI regulation. He said current laws already offer a way to handle many AI issues. He believes policymakers should balance innovation with public safety. Scholl argued that slowing progress too much could hurt technological advancement. His comments came during an appearance on The Bottom Line.
Memory stocks fall as AI leaders urge slower development
Memory stocks fell sharply after Anthropic CEO Dario Amodei and OpenAI CEO Sam Altman called for slowing AI development. Micron dropped 6 percent and SK Hynix fell 7 percent on Monday. Anthropic published an essay urging a slower pace of AI improvement, and OpenAI agreed. Analysts say the selling reflects fear that slower training could reduce demand for memory chips. However, no major company has cut spending plans yet.
DMG updates Christina Lake AI data center project
DMG Blockchain Solutions reported progress on its Christina Lake AI data center. The site now has 75 megawatts of power, with plans for up to 150 megawatts of firm power. DMG expects to support over 50 megawatts of critical IT load. The company is selecting contractors and has arranged for high-speed fiber connections. DMG aims to have tenant servers running by the end of 2026 or early 2027.
AI-generated books are hurting human authors on Amazon
A new study found that AI-generated books flooding online marketplaces are reducing sales for human authors. Over three years, the number of books with sales grew 19.2 times, but revenue only grew 8.9 times. Researchers say the huge number of AI books makes it harder for human-written books to be found. Amazon requires disclosure of AI use and limits daily uploads. Authors and experts worry that low-quality AI content is crowding out real talent.
AI stocks fall as leaders call for slower AI development
AI stocks dropped sharply after Anthropic CEO Dario Amodei called for the industry to slow down AI development. Oracle Executive Director Larry Ellison also halted a $50 million Oracle sale. The movement aims to let the world catch up with fast AI progress. Some leaders fear a slowdown could hurt innovation. The debate over AI's future continues.
Tech stocks fall as AI leaders warn about fast development
Tech stocks fell after AI leaders urged the industry to slow down. The Nasdaq dropped about 1%, while the S&P 500 and Dow each fell 0.6%. Stocks that supply AI infrastructure were hit the hardest. Anthropic CEO Dario Amodei published an essay calling for a more cautious pace. Five major companies are expected to drive 27% of S&P 500 growth over the next year.
Sources
- AI frontier slowdown could give second tier leg up
- AI frontier slowdown could give second tier leg up
- Apple has altered course on using customer data to train its AI
- Apple Changes Course on Using User Data to Train Its AI
- ‘Off a Cliff’: AI Devours Entry-Level Tech Jobs, As Experienced Workers Hold On
- Trump on AI: 5 Quotes That Show Where He Stands
- There is a lot of 'doom talk' around AI, but there's a lot of good happening: Boom Supersonic CEO
- Memory Stocks Lead AI Selloff as Anthropic and OpenAI Chiefs Urge Slower Development: Micron and SanDisk Sink 6%, SK Hynix Drops 7%
- DMG Blockchain Solutions Provides Update on its Christina Lake AI Data Center Conversion
- ‘They’re likely to get squeezed’: AI slop books are flooding online marketplaces—and it’s coming at the expense of paychecks for human authors
- AI Stocks Tumble, Frontier Lab Execs Call for AI Slowdown, and Ellison Pulls the Plug on 50M ORCL Sale
- Tech stocks slump after AI execs call for industry slowdown
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