Asian AI-related stocks faced selling pressure in Monday morning trading after three prominent AI industry leaders issued a rare joint call to slow the development of cutting-edge models, compounded by OpenAI CEO Sam Altman’s statement that the company would not go public this year. SoftBank Group shares plunged as much as 13%, while Samsung Electronics, SK Hynix, Advantest, and Kioxia also saw broad declines. However, market strategists believe that demand for chips, power, and computing infrastructure remains robust; while a slowdown in AI development might dampen tech hardware stocks in the short term, the long-term impact is expected to be limited.
AI Giants Call for a Slowdown; Chip Stocks Take a Hit
