Nvidia shares opened 3.7% lower on September 14, drifting toward their 50-day moving average around $212-213, after Anthropic CEO Dario Amodei published an essay calling for a voluntary slowdown in advanced AI development. Sam Altman (OpenAI) and Elon Musk quickly endorsed the proposed pause. The Nasdaq 100 dropped 1.4-1.5% at the open, with AI-linked stocks falling between 3% and 6%, hitting Intel, AMD and Micron. However, Nvidia’s order backlog reportedly in the trillions of dollars and the absence of cancellations from major cloud providers like Microsoft and Amazon suggest actual GPU demand remains robust. Nvidia has posted multiple consecutive quarters of triple-digit year-over-year growth in data center revenue.
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