Shares of power capex stocks such as Hitachi Energy India, CG Power, GE Vernova and others fell up to 16% over two sessions after OpenAI and Anthropic leaders called for a slowdown in AI development to manage risks and protect humanity.
GE Vernova T&D India shares fell nearly 9% over the two sessions, while CG Power declined 8%. Hitachi Energy shares were down around 6%, while Sterlite Tech and HFCL tumbled 10% each. TD Power Systems shares crashed 16% during the period.
These stocks have rallied sharply in recent months, gaining up to 63% in 2026 so far, amid expectations of rising demand for power generation, transmission and distribution to support India’s data centre boom.
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AI slowdown calls
Anthropic CEO Dario Amodei in a long X post on Saturday, called on AI companies to slow the rate at which they advance model capabilities amid mounting fears of misuse of artificial intelligence. The Anthropic CEO wrote that in nearly a year, AI agents "could be capable of taking over the entire internet, potentially causing hundreds of billions of dollars in damage."
