Dario Amodei: ""For too long the industry lied" about AI risks"

Anthropic chief executive Dario Amodei's weekend essay urging the AI industry to slow its development, along with his criticism of how the sector previously handled risk, helped trigger a technology stock sell-off Monday, Wall Street analysts said. The Nasdaq Composite slid about 1% in early trading, the S&P 500 lost 0.6% and the Dow Jones Industrial Average fell 0.6%, with companies supplying AI infrastructure taking the heaviest losses. SpaceX's Elon Musk, whose company owns xAI, and OpenAI's Sam Altman also supported calls for a slower pace. The drop reflects investor worry that massive AI spending could outstrip corporate earnings in a market whose record highs rest largely on a few tech companies, potentially dragging down ordinary investors' retirement savings.