Top Stories This Morning: Trump Opposes Slowing Down AI, Oil Prices Top $108, and Anthropic's Earnings

Donald Trump downplayed the risks associated with the development of artificial intelligence after the heads of Anthropic, OpenAI, and xAI called for slowing down the development of the most advanced models: according to him, the U.S. must maintain its lead over China. Oil prices jumped nearly 3% following the shutdown of a Saudi oil pipeline that allows for the export of up to 7 million barrels per day bypassing the Strait of Hormuz. Read about these and other topics in our roundup of key events as of the morning of September 14.

U.S. President Donald Trump downplayed concerns about the risks of artificial intelligence after the heads of Anthropic, OpenAI, and xAI called for slowing down the development of the most advanced models, according to Bloomberg. According to Trump, the U.S. is a leader in AI and must maintain its edge over China, since “whoever wins in AI will win.”

Anthropic CEO Dario Amodei proposed over the weekend that safety measures be strengthened, including bringing in independent experts to evaluate the models. Sam Altman and Elon Musk supported this initiative. The White House also called the additional measures reasonable, although Trump stated that many of the threats being discussed “will not happen.”

Oil prices rose after Saudi Arabia shut down the East-West pipeline, which allows crude to be exported bypassing the Strait of Hormuz. WTI futures rose 3.5% to $103.6 per barrel, while Brent futures rose 3.7%, climbing to nearly $108.5 per barrel.

An oil pipeline with a capacity of up to 7 million barrels per day was damaged by a drone attack from Iraq, according to CNBC. Riyadh has not provided a timeline for repairs, and a meeting between Iran and the Gulf states scheduled to take place in Oman to discuss the situation in the Strait of Hormuz following the attack has been postponed.

Anthropic, which is preparing to go public, has informed some shareholders that its adjusted operating profit will be positive for the second consecutive quarter, according to sources cited by the Financial Times. Achieving sustainable profitability is an important milestone for the five-year-old company, which is seeking to allay investors’ concerns about excessive spending on cutting-edge artificial intelligence developments, the publication notes.

At the same time, a Business Insider source reported that Anthropic has chosen the Nasdaq for a potential IPO. The company is aiming for a listing in October. Its valuation at the time of the offering has not yet been determined, but some estimates put it as high as $2 trillion, the publication notes.

For Nasdaq, this is yet another major victory following SpaceX’s IPO, which was valued at $1.75 trillion, according to Business Insider. Anthropic has not yet publicly filed for an offering and must disclose its financial statements at least 15 days before the start of the roadshow.

Oracle co-founder and chairman of the board of directors Larry Ellison has canceled plans to sell 50 million shares of the company for approximately $7.5 billion, TechCrunch reports. Oracle did not disclose the reason for the decision and clarified that Ellison has not sold any shares under this plan and does not plan to make any further sales.

Oracle's stock has fallen by about 22% since the beginning of the year amid the company's heavy spending on data centers and AI infrastructure.

— Japan's broad-based Topix index rose 0.6%, while the Nikkei 225 fell 1%.

— Hong Kong's Hang Seng Index rose 0.3%, while mainland China's CSI 300 Index fell 0.5%.

— In South Korea, the Kospi fell 2.7% and the Kosdaq fell 1.1%.

— Australia's S&P/ASX 200 remained virtually unchanged.

— Nasdaq 100 futures fell 1.3%, S&P 500 futures fell 0.5%, and Dow Jones Industrial Average futures fell 0.1%.

This article was AI-translated and verified by a human editor