Technology shares fell on Monday after leaders at major artificial intelligence companies called for a slower pace of development, while Microsoft moved higher after posting a provisional code of conduct that would restrict its AI models. The contrasting moves underscored investor concern over companies most exposed to the rapid expansion of AI infrastructure.
The tech-heavy Nasdaq Composite Index fell 147 points, or 0.6%, to close at 26,186 on September 14, 2026. The S&P 500 dropped 0.5%, while the Dow Jones Industrial Average declined 0.3%.
Semiconductor shares led the retreat. Nvidia slid 3.4%, Micron Technology fell 5.3% and the PHLX chip index tumbled 5.9%. ASM International dropped nearly 9%, while Infineon and BE Semiconductors each fell 8%.
The falls followed public warnings from leaders of Anthropic, OpenAI and xAI about risks associated with rapid AI development. Dario Amodei, Anthropic’s chief executive, published a blog post on Saturday urging AI developers to slow the pace of development. He warned that the technology’s growth was rapidly surpassing safety controls.
Sam Altman, OpenAI’s chief executive, backed Amodei’s views on AI safety over the weekend. Altman also said OpenAI was delaying its much-anticipated initial public offering, known as an IPO, and that the listing would not happen this year because of safety risks.
Jack Clark, a co-founder of Anthropic, told the BBC: “AI should require a 'kill switch' so systems can be shut down if they become too dangerous.” US President Donald Trump criticised Anthropic head Dario Amodei after his call for a slower pace of AI development.
Microsoft rose 2.5% after publishing its provisional code of conduct. The company said the code would impose restrictions on its AI models. SpaceX rebounded to trade 0.4% higher Monday. Other defensive technology shares also advanced, with CrowdStrike up 15% and ServiceNow up 6%.
The selling came as the Federal Reserve prepared for a policy meeting scheduled for the week. Treasury yields had surpassed 5% for the first time since 2023. The information available does not establish whether the expected rate decision contributed to the decline in technology shares.
The move also followed a sharp rise in AI-linked equities this year. Shares of Samsung, SK Hynix, Intel and Micron are among those up 100% or more so far this year. Goldman Sachs sees global AI capital expenditure topping $1 trillion in 2026, leaving semiconductor companies central to the spending boom that investors reassessed on Monday.
Comments (0)