Shares of Indian IT companies surged up to 6% on Tuesday after OpenAI and Anthropic leaders called for a slowdown in AI development to manage risks and protect humanity, boosting sentiment for the tech stocks on Dalal Street.
Infosys, HCLTech, LTI Mindtree and Mphasis shares jumped around 6% each, while TCS and Tech Mahindra shares gained more than 5%. Persistent Systems, Wipro, OFSS and Coforge shares gained 2-4%. The sharp surge in IT stocks pushed the Nifty IT index around 5% higher on Tuesday morning, leading gains among the sectors.
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."
