AI infrastructure stocks, including chipmakers and data-center suppliers, tumbled Monday following Anthropic CEO Dario Amodei’s call for an AI training slowdown due to safety concerns, backed by Sam Altman of OpenAI and Elon Musk. The selloff mirrors the SaaSpocalypse that hit software stocks earlier this year, but the article argues the market reaction is overblown and nothing has fundamentally changed in the AI buildout thesis. The key reasons cited are that Amodei’s call concerns training, not inferencing, that adoption of existing models continues, that China will likely not participate in the slowdown effort, and that open-weight models continue to develop outside regulatory controls. Two additional risk factors are the approximately 93% probability of a Fed rate hike on Wednesday and November midterm elections in the US.
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