Bitcoin gains ground as AI slowdown concerns hammer chip stocks including Nvidia and Intel.
Macro & Markets ·
Anthropic CEO Dario Amodei, backed by OpenAI's Sam Altman and Elon Musk, called for the AI industry to deliberately slow capability improvements, triggering a sharp selloff in chip stocks on Monday with Nvidia down 3%, Intel down over 5%, AMD down about 6%, and the Philadelphia Semiconductor Index falling nearly 6%. Bitcoin climbed to $78,280, gaining nearly 2% since midnight UTC, while broader crypto markets added 1.5% in total capitalization, defying the chip sector decline and potentially boosted by progress on U.S. crypto legislation as the Clarity Act's passage odds improved to 31% on Polymarket after President Trump agreed to updated ethics provisions.