HK Stock Market Move | AI giants' call for a "slowdown" rattles storage concept stocks; GigaDevice Semiconductor Inc. (03986) drops over 6%, Montage Technology (06809) falls more than 5%.

Storage concept stocks led the declines. As of press time, GigaDevice Semiconductor Inc. (03986) fell 6.24% to HK$424; Montage Technology (06809) dropped 4.96% to HK$245.2. On the news front, on Saturday, Anthropic CEO Dario Amodei published a blog post calling on the global AI industry to proactively slow down, arguing that the current pace of improvement in frontier model capabilities has far outstripped humanity's ability to understand and control them. Within hours of the post, Musk stated on X, "Dario is right." OpenAI CEO Sam Altman quickly followed suit, saying he agreed with Amodei's judgment on "controlling the pace of frontier advancement." Morgan Stanley noted that the market had long assumed "continuous iteration of ultra-large models and ever-rising compute spending," and this proactive industry slowdown is tantamount to directly lowering forward expectations for training compute demand. Hardware such as GPUs and HBM that is deeply tied to large-model training will naturally see a sentiment-driven valuation pullback.