Asian shares are mixed and OpenAI investor SoftBank shares plunge after calls to slow AI industry
- SoftBank Group secured an $11.87 billion loan to support its investment in OpenAI, exceeding its original $10 billion target, according to people familiar with the matter.
- The Japanese conglomerate is slated to invest close to $65 billion in OpenAI by October, while simultaneously repaying a $40 billion loan it obtained earlier this year.
- Shares of SoftBank plummeted 11.2% on Monday after OpenAI Chief Executive Officer Sam Altman and Anthropic CEO Dario Amodei called for slower AI development to ensure safety.
- In a Fortune interview published Saturday, Altman confirmed OpenAI will not proceed with an initial public offering this year, citing safety-related concerns as the primary reason.
- SoftBank faces investor concerns regarding growing credit risks in the artificial intelligence sector while considering a bond sale of up to $20 billion, Morningstar researcher Dan Baker said.
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AI Stock Rout Deepens as Industry Leaders Urge Slower Development
AI-linked stocks and semiconductor companies tumbled across Asia after executives at major U.S. AI firms raised concerns about the risks of rapid technological development. SoftBank ... The post AI Stock Rout Deepens as Industry Leaders Urge Slower Development first appeared on [your]NEWS.
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Asian shares decline and OpenAI investor SoftBank shares plunge after calls to slow AI industry
Asian shares have mostly declined, led by AI-related stocks, and U.S. futures have edged lower. Oil prices have gained more than 2% as worries grow over global oil supplies after Saudi Arabia shut down a major oil pipeline used to…
Asian shares are mixed and OpenAI investor SoftBank shares plunge after calls to slow AI industry - Regional Media News
HONG KONG (AP) - Asian shares were mixed Monday, as shares of Japanese investment conglomerate SoftBank Group, a key investor in OpenAI, fell more than 10% following calls from Anthropic and OpenAI to slow AI development for safety. U.S. futures edged lower, while oil prices [...]
Tech stocks slide as AI extinction warnings rattle markets
Tech stocks tumbled across Asia and US futures pointed lower on Monday after some of the world’s most powerful AI bosses called for the industry to slow development over safety fears. Japan’s SoftBank, one of OpenAI’s biggest investors, plunged as much as 13 per cent in Tokyo, while memory chip maker Kioxia dropped as much [...]
SoftBank shares plunged more than 13 percent in Tokyo on Monday, their biggest one-day drop in nearly three months, after executives at Anthropic and OpenAI called for a slowdown in artificial intelligence development for security reasons. The warning added to concerns about the Japanese technology investment giant, which is racking up debt to finance its bets on the AI sector, Bloomberg reported.
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