9AM HOUR: AI Leaders Call For Slowdown, Chips Slide, OpenAI's Altman Rules Out 2026 IPO 9/14/26

Sara Eisen (0:00)

The board recommends approving.

David Faber (0:01)

Regarding that seat on the committee, we're promoting.

SPEAKER_3 (0:02)

To boost quarterly earnings.

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David Faber (1:00)

Market insight and analysis. You're listening to the opening bell of CNBC's Squawk on the Street. Good Monday morning.

Carl Quintanilla (1:14)

Welcome to Squawk on the Street. I'm Carl Quintanilla with Sara Eisen, David Faber at Post 9 of the New York Stock Exchange. Dario Amodei is on assignment getting ready for DreamForce out West. Watch the rotation today as the AI trade is in the crosshairs after Dario Amodei's warning that Frontier AI needs to be paced. Fed meeting this week where the hike is now a base case, 10-year 498 Brent's closing in on 110 again as that Saudi East-West pipeline is now expected to be shut for several weeks following that Huthi attack. Our roadmap begins with AI leaders calling for a timeout, CEOs of Anthropic, OpenAI, XAI and others warning the technology is moving too fast.

David Faber (1:51)

Plus when it comes to those leaders in terms of training new models, we are playing the IPO waiting game. Sam Altman in an interview tapped the brakes on the chance of a public debut for OpenAI this year saying it would be ill-advised.

Sara Eisen (2:05)

And Fed expectations, Goldman Sachs and other major banks now calling for a rate hike this week.

Carl Quintanilla (2:10)

Let's begin with the AI industry leaders calling for a slowdown. Anthropics, Dario Amodei setting the tone with his essay. Sam Altman and Elon Musk among those agreeing with what he wrote. This is what he had to say in an interview on CBS Sunday Morning.

Dario Amodei (2:25)

There are real dangers. And I think for too long, the industry lied to people about the fact that this technology had risk. The idea was that they would present it as positive as possible. We've never done that. But too much of the industry did that.

And so, it starts with telling the truth. And the truth is, there are risks.

Carl Quintanilla (2:50)

Including this risk, really, the crux of his essay, this line about his fear that in 6 to 12 months, a swarm could be capable of taking over the entire Internet with a persistent bot attack.

David Faber (3:04)

Yeah, that got a lot of people's attention, of course. You know, I've been reading his essays since Machines of Loving Grace. I remember that one. There's a lot of his hits. And of course, he has always been, at least in the last, let's call it three years, of the leaders of the AI labs, the most outspoken in terms of at least trying to bring to the fore what he believed were the concerns that society should have about the continued advancement of this technology. As you well know, Carl, I've talked about a lot of those fears as well. They do seem to have come to a sort of a new boiling point recently with any number of different discussion points by people who no longer work for Anthropic or work for OpenAI. I mean, OpenAI's chief scientists were only a week or so away from that essay called The Alien Mind. And I always remind people, OpenAI itself was formed with the idea of creating AI in a safe way when Elon Musk and Sam Altman, now of course enemies, were partnered in what was originally that mission and then Dario, of course, also an OpenAI employee at one point having broken off to become or launch what was a safer attempts at doing so. The question, of course, for the markets is where are we? What is this going to mean? Will there really be any sort of a pacing and a slowdown in the development of these frontier models? What will that mean for the chip stocks? What will that mean for the entire ecosystem?