Bloomberg: AI slowdown calls may weigh on chip stocks, longer trade seen intact

Bloomberg reported that weekend calls by AI bosses to slow development will likely pressure chip stocks soon, while the longer bet on computing infrastructure is still seen as intact.

Weekend talk about slowing AI now has a market translation: Bloomberg expects chip stocks to take a hit soon, without writing off years of data-center spend. The only early traded signal in the piece was a thin Sunday Hyperliquid SK Hynix move — not a regular stock-market open.

Bloomberg’s Matthew Burgess, Winnie Hsu, and Erica Yokoyama reported that AI executives’ calls to slow development are likely to weigh on chipmaker and supply-chain stocks in the near term. They expect a limited long-term hit while spending on computing infrastructure stays strong. That Bloomberg story — also reprinted the same day in The Business Times (Singapore) — is the filing event. This is a market read of weekend CEO remarks: how traders might mark chip names after the politics. It is not a count of cancelled orders.

The trigger, as Bloomberg frames it, is Anthropic CEO Dario Amodei’s Saturday “pace the frontier” call, including independent third-party evaluations, plus OpenAI CEO Sam Altman’s backing and xAI’s Elon Musk saying “Dario is right.” Those weekend remarks are and altman-musk-hassabis-back-amodei-pacing. This filing is Bloomberg’s chip-stock read only.

Bloomberg says semiconductor makers and other AI-linked stocks “may bear the brunt of any initial selloff on Monday” (14 Sep) while investors ask whether a more cautious approach to advanced models will crimp earnings.

Gary Tan, a portfolio manager at Allspring Global Investments in Singapore, told Bloomberg short-term pressure is unlikely to derail the longer AI trade. Quoted, as Bloomberg reports him: “It may cause some short-term pressure, but it’s unlikely to derail the longer-term AI trade.”

Billy Leung, an investment strategist at Global X Management in Sydney, told Bloomberg that the three CEOs agreeing to pace things “does not really change the money being spent on chips, power and infrastructure” and “extends the development timeline.” He said if commercialisation and adoption keep growing while the pace of new capability eases, that helps the shift from building toward making money.

Charu Chanana, chief investment strategist at Saxo Markets in Singapore, told Bloomberg tech valuations assume not only strong demand but a relentless pace of model development. She said demand for computing power and AI adoption “does not disappear because additional safeguards are introduced.” Memory, networking, cooling, and power-equipment companies, she said, may be protected by projects already in development.

The backdrop from June records, as Bloomberg reports it: the Nasdaq 100 — the index of the largest non-financial names on Nasdaq — is down more than 4% from that June high. A U.S. chip gauge is down 14%. Asian tech is down almost 8%. The S&P 500 and MSCI’s global shares gauge are each up about 0.6% over the same stretch. Those are Bloomberg’s index lines — not a Monday session.

The weekend traded signal cited by Bloomberg is that SK Hynix Hyperliquid perpetual contracts — around-the-clock crypto-style bets on the Korean memory-chip maker — were down roughly 2.5% by 2pm Singapore Sunday.