Tech stocks today: CEOs call for pacing AI, as Nvidia CEO says extinction fears are made up

Semiconductor stocks took a leg lower on Monday after Anthropic (ANTH.PVT) CEO Dario Amodei made a public plea to "slow down the AI industry."

The call was echoed by rival OpenAI (OPAI.PVT) CEO Sam Altman and even his nemesis, SpaceX (SPCX) and Tesla (TSLA) CEO Elon Musk, who voiced his agreement.

But Wall Street analysts say the AI train has left the station, with no slowdown in development or spending.

Capital expenditures for the four major hyperscalers totaled $293 billion for the first two quarters of 2026. Together, they are on pace to spend nearly $600 billion on artificial intelligence infrastructure this year alone, cementing the AI trade as the primary driver of both the economy and stock market.

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