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D.A. Davidson tech analyst Gil Luria has an important callout for investors amid scary headlines from AI masterminds Anthropic (ANTH.PVT) CEO Dario Amodei and OpenAI (OPAI.PVT) CEO Sam Altman.
That is, neither has said publicly that they will change anything right now that upends their companies’ torrid growth, which is fueling the tech ecosystem.
“They’re being Machiavellian here,” Luria said on Yahoo Finance’s Opening Bid (video above). “They’re clearly very competent individuals that have grown their companies to this size. So I don’t doubt their qualifications. I just doubt their motivations because … neither of them actually said we are slowing down the development of AI. They both said, if everybody slows down, we will slow down.”
Over the course of two days, Amodei and Altman have managed to scare investors about the powerful technology they created and have pushed their teams to supercharge it.
“Over the last few months, I have become convinced that fully addressing the risks requires even more prudence — not just investing in risk prevention, but pacing the rate of capabilities advancement so that risk prevention has time to keep up,” Amodei stated in a 3,800-word essay on Saturday. “We must slow the pace at which we improve the capabilities of A.I. models. Progress will still seem fast, and we must make wise use of the time we gain.”
Altman said right after the post that he agreed with his rival. He then followed that up on Monday with a dark X post early today.
“There are two ways AI progress could go very badly, and that we must avoid. First, we could lose control of the future to AI. This is unacceptable; we are unapologetically on Team Humanity, and AI must always serve people. To ensure that, we need ways to ensure that alignment and safety techniques stay ahead of progress in model capabilities,” Altman said in an X post early this morning.
He continued, “Second, we could end up in a world with too much concentration of power. If an extraordinarily powerful AI is used by one person or company to impress their worldview onto everyone else, the results could be extremely dystopian. Avoiding these two threats requires walking a narrow middle path; for example, one country could gain too much power. Another example is one lab ending up with too much power.”
The warnings hammered momentum AI names such as Micron (MU), Sandisk (SNDK), and Nvidia (NVDA).
Any slowdown in the pace of AI development could upend the billions of dollars being plowed into America’s AI infrastructure. That may then trigger a rerating in AI names, which is what the market is moving quickly to price at this precise moment.
