Bitcoin Climbs as AI Slowdown Calls Sink Nvidia, Intel and Other Chip Stocks
Calls from major AI leaders to slow frontier model development rattled AI markets. Anthropic CEO Dario Amodei urged a deliberate pace in AI progress, citing recursive self-improvement and a recent agent-swarm incident as warning signs; Sam Altman and Elon Musk publicly echoed support. Investors responded by selling chip and semiconductor stocks: Nvidia, Intel, AMD, Marvell, and the Philadelphia Semiconductor Index all fell sharply. Crypto moved the other way. Bitcoin rose to around $78,280, with Ethereum and XRP also higher, lifting total crypto market value. Bitcoin’s gains fit a recent pattern: it tends to weaken on hawkish rate fears and rebound on any signs of monetary easing. Sentiment was also helped by renewed momentum for U.S. crypto legislation. Odds of passing the Clarity Act rose after ethics changes unblocked the bill, and an upcoming Senate cloture vote could be a major market catalyst.
