This is so amusing to the daily nihilist that I’m not sure where to look.
This chart is the ratio of a GS basket of perceived AI winners vs equal-weight S&P:
As Wall Street throws the kitchen sink at AI stocks, we now have a parallel debate emerging that the same phenomenon will trigger human extinction.
Alphabet’s DeepMind, OpenAI, and Anthropic’s CEOs have all recently joined a rising chorus of executives warning about the existential risks of the rapidly evolving technology of AI.
The Centre for AI Safety, a non-profit organisation, issued a statement on Tuesday morning (US time) saying, “Mitigating the risk of extinction from AI should be a global priority alongside other societal-scale risks, such as pandemics and nuclear war.”
More than three hundred and fifty business leaders and academics, including OpenAI CEO Sam Altman (whose company developed ChatGPT), DeepMind CEO Demis Hassabis, and Anthropic CEO Dario Amodei (whose company was created by veterans of OpenAI), signed the declaration.
Elon Musk, Stuart Russell (a professor of computer science at the University of California, Berkeley), and Steve Wozniak (co-founder of Apple) were just a few of the more than 1100 experts in business and technology that called for a six-month moratorium on training powerful AI models back in March.
It would be just like the human race to bet on, blow a bubble about, then suffer from, its own extinction.
Or, maybe it’s AI doing it for itself!
The U.S. stock market is surprisingly calm right now, especially in the face of the debt-ceiling fight. A key reason: a growing divide between mainstream investors, who have largely been sitting out the 2023 stock rally, and the machines whose buying has been driving it.
Come with me if you want live.
