Following a proposal by Anthropic CEO Dario Amodei to slow the pace of AI development to ensure public safety, leaders from OpenAI, Google DeepMind, and xAI have expressed support. OpenAI CEO Sam Altman and Google DeepMind chief Demis Hassabis specifically endorsed Amodei's "We Must Pace the Frontier" initiative, which includes embedding independent evaluators within AI companies. This call for a slowdown comes amid growing fears that AI technology is advancing too rapidly and could pose existential risks to humanity.

This sentiment from AI bosses caused a downturn in AI-linked stocks. Shares in SoftBank, a major investor in OpenAI, dropped by 13%. The South Korean Kospi stock index, heavily reliant on chip manufacturers supplying AI companies, fell by 3%. Taiwan Semiconductor Manufacturing Company saw a 1.2% decline, and futures for the Nasdaq indicated a 1.3% drop. In Europe, Dutch tech manufacturer ASML's shares slumped by as much as 5.4%. However, some stocks threatened by AI, such as advertising group WPP and analytics business Relx, saw rallies of 3.1% and 4.2% respectively.

Critics argue that the proposed slowdown, which includes requiring AI labs to host "embedded evaluators" to verify safety practices, is a form of "regulatory capture." This strategy would allow established AI companies like Anthropic, SpaceX, and OpenAI to define the rules of regulation, potentially benefiting them by reducing competition while ostensibly addressing safety concerns. OpenAI's Sam Altman also indicated that the company would not pursue a public listing this year due to unresolved AI safety concerns, further suggesting that regulation could be beneficial for investors.

The push for a slowdown also highlights the intense competition and distrust within the AI industry. Despite public warnings about AI risks, development has accelerated dramatically due to billions of dollars in investment. The Financial Times noted that concerns about antitrust regulations have prevented formal collaborations on safety, and personal distrust between leaders like Anthropic's Dario Amodei and OpenAI's Sam Altman has hampered cooperation efforts. Both OpenAI and Anthropic are reportedly pursuing recursive self-improvement and are preparing for potential initial public offerings, leading investors to grapple with valuing companies that acknowledge their technology could pose an existential threat.