Memory Stocks Slide as Anthropic and OpenAI Chiefs Urge Slower AI Development

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Summary · why it matters

Memory stocks led an AI-infrastructure selloff early Monday after the chief executives of Anthropic and OpenAI called for a deliberate slowdown in the pace of AI capability advancement. Micron Technology fell 6% to $916.03, SanDisk fell 6% to $1,531, and SK Hynix dropped 7% to $175.98, with SK Hynix the deepest decline of the three as the primary HBM supplier for NVIDIA AI accelerators. The Roundhill Memory ETF dropped 7%, several times the 2% decline in the Invesco QQQ Trust, confirming the selling was concentrated in the memory complex rather than across large-cap technology. Anthropic CEO Dario Amodei published an essay on Saturday stating, "We must slow the pace at which we improve the capabilities of AI models," and OpenAI CEO Sam Altman said he agreed, posting early Monday that pacing does "not mean 'stopping.'" Bernstein analyst Madison Rezaei wrote that it is not a call for lowering capex or stopping model training, but that many investors have started to question what happens if training slows, and no hyperscaler has cut capital spending, positioning the essays as a sentiment shock rather than a structural order-book change.

Impact on stocks 4

Semiconductors▼ · 3 stocks
SK Hynix Inc
000660
▼ NegativeDemandrelevance

SK Hynix, the primary HBM supplier for NVIDIA, fell 7% as the AI-slowdown essays raised doubts about memory demand.

Micron Technology Inc
MU
▼ NegativeDemandrelevance

Anthropic and OpenAI CEOs urging a slower AI development pace threatens future memory/HBM demand, sending Micron down 6%.

Sandisk Corp
SNDK
▼ NegativeDemandrelevance

The AI-slowdown call from Anthropic and OpenAI chiefs hit memory stocks broadly, with SanDisk falling 6%.

Artificial Intelligence▲ · 1 stocks

Off-coverage companies 3

AnthropicPrivate± Mixed
relevance

Bernstein (Societe Generale / AllianceBernstein JV)Private± Mixed
relevance

OpenAIPrivate± Mixed
relevance

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