Trump publicly called Jensen Huang: Claims about AI dangers are a "scam," and data centers are more important than the internet.
At the All-In Summit in Los Angeles, NVIDIA CEO Jensen Huang received a call from Trump and switched to speakerphone. Trump dismissed concerns about the dangers of AI as a "hoax," likening data centers to "the oil of the next two to three decades" and asserting that their importance "surpasses the internet." Huang immediately voiced his agreement, stating, "We will not let (AI slowdown) happen." However, this strong stance failed to boost the market; NVIDIA's stock fell 3.4% that day, while tech stocks broadly declined.
Trump Slams Anthropic CEO: AI Development Cannot Be Braked; A “High-IQ President” Is Sufficient for the U.S.
On Monday, Trump stated that he clearly does not endorse the public backlash triggered by AI data centers or the concerns raised by the outside world regarding cutting-edge models. He wrote: "The only 'safeguard' AI needs is a strong and intelligent (high-IQ!) president—and the United States happens to have just such a president."
Hedge funds have just rebuilt their long positions in technology stocks, yet key support levels for the Nasdaq are already beginning to weaken.
The Nasdaq 100 index is approaching the lower boundary of its multi-month trading range, with futures breaking below both the ascending trend line and the 100-day moving average, signaling a weakening technical picture. Hedge funds had previously piled into tech stocks, and their concentrated positioning has amplified downside risks. AI safety concerns and energy supply risks are acting as dual catalysts. If key support gives way and market panic remains muted, volatility could face a reevaluation.
Tesla Roadster Teaser Hides a 'Back to the Future' Easter Egg: Here's What It Says
Tesla Inc. (NASDAQ:TSLA) dropped a new teaser for its long-delayed Roadster over the weekend, and eagle-eyed fans quickly found more than a launch date buried inside the image.TSLA stock is moving.
SA Analyst Upgrades/downgrades: SNDK, MCD, KHC, SPCX
CrowdStrike, Palo Alto Networks Lead Cybersecurity Stocks Higher Amid AI Worries
Anthropic Still Likely to Go Public This Year, Despite AI Uproar: Report
SpaceX Faces Starship Dilemma: Starlink Revenue or Moonshot R&D?
Space Exploration Technologies Corp. (NASDAQ:SPCX) is about to turn Starship into a revenue-generating rocket for the first time, raising a new question for Elon Musk: how much launch capacity goes
Concerns over an “AI slowdown” trigger global sell-off in chip stocks; Bernstein reassures market: fundamental logic of computing power spending remains unchanged
The rallying call from AI giants to "slow down" has triggered a sell-off in chip stocks, but Bernstein has bucked the trend, arguing that slowing growth does not equate to cutting investment in computing power.
Defense, Space Startups Take SPAC Route as Investor Interest Soars
Why Is CoreWeave Stock Falling Monday?
CoreWeave Inc. (NASDAQ:CRWV) stock fell nearly 8% in Monday's premarket trading as investors pulled back from high-growth technology and AI-linked stocks.S&P 500 futures declined 0.6%, while Nasdaq
Why Is Micron Technology Stock Falling Monday?
Micron Technology Inc. (NASDAQ:MU) stock fell more than 5% in Monday's premarket session as a broader sell-off hit memory, storage and AI-linked stocks.Nasdaq futures dropped 1.48%, while S&P 500
The shortage of gas turbines is expected to persist until 2030, forcing AI data centers to revert to steam boilers.
Demand for power in AI data centers is surging, yet gas turbine supplies are tight, with Elon Musk warning that inventories are fully booked through 2030. Some operators are shifting to industrial
Why Is Dell Technologies Stock Falling Monday?
Dell Technologies Inc. (NYSE:DELL) stock fell nearly 4% in Monday's premarket session as a selloff in AI-linked stocks weighed on the broader technology sector.Nasdaq futures dropped 1.70%, while S&
OpenAI CEO Calls for 'Pacing, Not Stopping' AI Development
Anthropic Picks Nasdaq for Its $2 Trillion IPO, Tells Investors It Expects a Second Consecutive Profitable Quarter: Reports
Anthropic has reportedly selected Nasdaq as the venue for its planned initial public offering and has told a small group of investors it expects positive adjusted operating income for a second
In a recent interview, the CEO of Anthropic discussed slowing down AI research and development: "The industry has been lying for far too long. The risks of AI are real, but there's no need to 'shut everything down.'"
Dario Amodei believes that "slowing down AI" does not mean we should panic today, nor does it imply shutting everything down. However, we must ensure that our safeguards, understanding, and control mechanisms keep pace with the rapid advancement of technology. Moreover, the idea of simply turning off AI models is not the only solution. If an AI model is powerful enough, it may prove impossible to shut down altogether.
Nebius Stock Stuck in Bear Market as Risks to Its Growth Story Build
Nebius Group (NASDAQ:NBIS) remains under pressure, with repeated attempts to rebound stalling out. The stock closed the week at $224, down 25% from its all-time high, even as the company continues
Dow Jones Index Outlook: Top Stock Market News This Week
The Dow Jones Index has slipped by over 4.1% from its all-time high as its biggest constituent companies lost momentum. It ended the week at 52,578 points and is still up by 10% this year. This
Hassett Says White House Will Respect Fed Decision, Weighs AI Safety Guardrails