AI stocks fell sharply worldwide after Anthropic's Dario Amodei called for slowing AI model development, with Sam Altman and Elon Musk agreeing. The selloff highlights growing investor caution over safety risks amid years of heavy AI investment.
Anthropic safety researcher Evan Hubinger said he believes that there is a greater than 10% chance AI will kill all humans within the next decade.
Michael Burry posted on X that the warnings were an attempt by major players to stifle smaller competitors.
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AP says another wipeout for AI data-center stocks more than erased Wednesday's gains, which were Wall Street's best in three months. The S&P 500 closed down 4.4%, the Dow 1,833 points (3.4%), and the Nasdaq 5.5%. Nvidia fell about 9.2%, AMD about 17%, and CoreWeave about 9.8%. Democratic midterm wins raised the possibility of data-center construction pauses — a fear, not an enacted moratorium. AP called it the S&P's worst drop since the April 2025 Liberation Day tariffs.
Alphabet shares slid 10.2% in premarket trading after Q3 results, Reuters reported (Investing.com, updated 6:00 AM AST). Alphabet's release shows Search & other revenue of $63.35B, up 12%, and free cash flow of negative $9.065B; CNBC says Search came in below estimates and FCF was far worse than the $2.70B deficit analysts expected. Nasdaq 100 futures were down about 1% at 5:18 AM AST while Microsoft rose 3.6%, per Reuters.
Meta priced $15 billion of senior notes in five tranches on November 3, according to its pricing term sheet, with coupons from 5.85% on 2031 notes to 7.50% on 2056 notes. Bloomberg reported orders peaked at about $58 billion and said the deal is part of a cross-border financing of at least $20 billion that includes a euro debut.
OpenAI has cut its funding target by $10 billion and now seeks about $20 billion at a $1.25 trillion valuation, the Financial Times reported. The round has not closed.
The New York Times sued Brave Software, alleging the browser bypasses paywalls and sells news content to AI companies without permission. The suit seeks an injunction and restitution of profits the publisher claims exceed $100 million.
