Tech stocks experienced a significant decline on Monday following calls from prominent AI executives for the industry to slow down its development pace. The Nasdaq Composite Index fell 147 points (0.6%), and shares of semiconductor companies Nvidia and Micron Technology dropped by 3.4% and 5.3%, respectively. These declines were spurred by comments from CEOs like Anthropic’s Dario Amodei, SpaceX’s Elon Musk, and OpenAI’s Sam Altman, who emphasized the need for caution in AI advancements due to potential risks.
Written by the local model on 2026-09-15,
using this article's own text rather than the other coverage of the
same event.
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No political leaning scored for article 10141 · logged 2026-09-15
Calls for a
development sparked a global sell-off in technology stocks on Monday, as investors fretted over the sustainability of spending in a sector that has driven financial markets to record highs.
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that → spark → highs
The tech-heavy Nasdaq Composite Index fell 147 points, or 0.6%, to close at 26,186.
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Index → fall → 26,186
The S&P 500 and blue-chip Dow Jones Industrial Average dropped 0.5% and 0.3%, respectively.
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S&P → drop → ?
Shares of chipmakers Nvidia and Micron Technology, which both produce advanced semiconductors used in AI infrastructure, slid 3.4% and 5.3%, respectively, on the day.
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which → produce → day
Adam Crisafulli, head of investment advisory firm Vital Knowledge, said "pick and shovel" stocks, which represent companies that supply AI infrastructure and resources, were hit hardest during early trading.
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that → say → trading
"Markets are trying to figure out what the pace [of AI development] is, and there will be winners and losers depending on what that pace is," David Royal, chief financial and investment officer at financial services provider Thrivent, told CBS News.
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Royal → try → News
"I'm not too alarmed by what we're seeing today, but you are seeing some individual names in the chip space that are getting hit pretty hard," he added.
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he → see → space
Investors are reacting to comments from leaders of major AI companies who said the industry should proceed more cautiously in developing AI to guard against potential risks, Wall Street analysts said.
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analysts → react → risks
The warnings intensified after Anthropic CEO Dario Amodei published an essay over the weekend calling for the industry to "pace the frontier."
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industry → intensify → frontier
"For too long the industry lied" about AI risks, Amodei
senior business and technology correspondent Jo Ling Kent in an interview.
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industry → lie → interview
Elon Musk, CEO of SpaceX, which owns xAI, and Sam Altman, CEO of OpenAI, echoed Amodei's calls for a slowdown.
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which → own → slowdown
Is the AI bubble hissing air?
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bubble → hiss → air
Investments in AI have been the main growth engine for the stock market, helping it notch a succession of record highs.
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it → help → highs
Now, investors worry that billions of dollars in AI capital expenditures will outpace corporate profits, leading to a stock downturn.
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billions → worry → downturn
Stock market performance has become increasingly concentrated in a handful of tech companies, with any major tech sell-off threatening to hurt investors and drag down Americans' 401(k) plans.
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off → become → plans
According to Bank of America Global Research, five stocks — Alphabet, Apple, Micron Technology, Microsoft and Nvidia — will account for 27% of S&P 500 growth over the next 12 months.
uncertain
stocks → accord → months
As a whole, tech stocks will account for 50% of that earnings growth, the firm predicts.
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firm → account → growth
Some Wall Street analysts think the AI-fueled market rally has more room to run in the near term, but faces mounting risks in the long term.
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rally → think → term
Investment adviser Capital Economics forecasts the S&P 500 to hit 8,250 by year-end.
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S&P → forecast → end
But the firm also expects what many
to burst next year, leading to a more than 20% drop in the S&P 500 by the end of 2027.Crisafulli said he is concerned about the pace of AI spending.
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he → expect → spending
However, if we do see a sharp slowdown in AI CapEx, it won't necessarily lead to a complete market downturn, he added.
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he → see → downturn
"I think it's more nuanced than just bubble, no bubble," he said.
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he → think → bubble
"This pace of spending is absolutely not sustainable.
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pace → spend → spending
But that doesn't mean everything that is associated with AI has to suffer as a result."
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that → mean → result
The Aporia
