President hits out after Anthropic, OpenAI and SpaceX leaders back call to limit ‘reckless’ development

AI-linked stocks tumbled on Monday after the bosses of Anthropic, OpenAI and SpaceX called for a slowdown in AI “reckless” development, citing fears the technology could soon run out of control.

Shares in the semiconductor designer Nvidia – the world’s most valuable company – were down 3% by early afternoon in New York, while Advanced Micro Devices (AMD) slumped 4.4% and Micron Technology and Sandisk shares slumped by 5%.