Ceos Call

• A Chinese minister dismissed calls from AI executives to slow down technology development, labeling such warnings as fear mongering. • The minister described the field of artificial intelligence as the main battleground for global technological competition and strategic rivalry among major powers. • This stance signals that China intends to prioritize rapid AI advancement and openness over the cautious approach requested by some industry leaders.

• AI-linked stocks declined recently after CEOs from companies like OpenAI and Anthropic called for a slowdown in the development of artificial intelligence. • Memory chipmaker Kioxia plunged 9.8 per cent, while Samsung Electronics and Tokyo Electron both fell 3.7 per cent. • The slump reflects investor volatility as market leaders weigh the potential for humanity-threatening risks against the race for technological dominance.

• AI-linked Asian stocks declined recently after CEOs of leading AI laboratories called for a slowdown in the development of the technology. • The slump follows growing opposition to the industry driven by cyberattacks from rogue AI agents and public pushback against data center construction. • This volatility affects global equity markets that have relied on AI-related trades for gains since the 2022 release of ChatGPT.