Bosses Call

• AI developers Anthropic PBC and OpenAI are proposing measures to slow the development of cutting-edge artificial intelligence models to better understand safety risks. • The companies are pursuing these restrictions following a series of security breaches involving their powerful AI systems. • These safety calls create a potential conflict with the Trump administration and financial markets that are likely to resist any substantial slowdown in tech progress.

• Tech stocks across Asia fell on Monday after leaders from OpenAI, SpaceX, and Google DeepMind backed a call to slow the development of artificial intelligence. • Sam Altman, Elon Musk, and Demis Hassabis posted support for an essay by Anthropic CEO Dario Amodei titled “We Must Pace the Frontier.” • Investors are pricing in a potential slowdown that could make it difficult for the industry to fund hundreds of billions of dollars in AI infrastructure investments.

Shares in tech firms tumble across Asia with Nasdaq also likely to dip later after Anthropic, OpenAI and SpaceX leaders back callAI-linked stocks tumbled on Monday after the bosses of Anthropic, OpenAI and SpaceX called for a slowdown in “reckless” development citing fears the technology could soon run out of control.Shares in SoftBank, a Japanese investor that is a big backer of OpenAI, slumped 13%, while the South Korean Kospi stock index, which relies heavily on chip makers that supply AI companies, dropped by 3%. Continue reading...

HSBC, Barclays, Lloyds, NatWest and Santander will this week discuss with chancellor how to limit effects of conflict The bosses of Britain’s “big five” retail banks have been summoned to a meeting with the chancellor, Rachel Reeves, this week to discuss how to limit the economic impact of the crisis in the Middle East triggered by the US and Israel’s attacks on Iran.The chief executives of HSBC, Barclays, Lloyds, NatWest and Santander have been asked to attend an emergency summit that comes amid increasing acceptance that a major economic hit from the Iran war is unavoidable. Continue reading...