AI Chiefs Call for Slower Model Development

Watch on YouTube ↗  |  September 14, 2026 at 04:16  |  1:34:59  |  Bloomberg Markets
Speakers
Sonny Bonga — Equity Strategist, Bloomberg
Anthony Stevens — Bloomberg Market Producer
Tieying Ma — Senior Economist, DBS
Vasu Menon — Managing Director of Investment Strategy, OCBC
Michael Hearth — Deals Editor, Bloomberg
Balaji Krishnamurthy — CFO, Uber Technologies, Inc.
Sian Fenner — Head of Content, Blockworks
Haidi Stroud-Watts — Anchor, Bloomberg
Roslyn Matheson — Chief Asia Correspondent, Bloomberg
Cha Jiho — Member of Parliament, South Korea

Summary

Asian markets opened lower, led by chipmakers and AI-linked stocks, after Anthropic's CEO called for slower frontier AI development and was backed by Sam Altman and Elon Musk. Investors also braced for Fed and BOJ decisions, with hot U.S. CPI and rising Treasury yields in focus, while oil prices jumped after Saudi Arabia shut a key pipeline and Hormuz talks were delayed. Guests debated the AI trade's near-term risk, equity resilience despite higher yields, the yen and BOJ outlook, and long-term LNG/oil fundamentals.

  • AI executives back slower frontier AI development, hitting Asian chip and AI stocks.
  • Traders await Fed and BOJ decisions amid hot U.S. CPI and 5% Treasury yield concerns.
  • Oil rises as Saudi Arabia shuts its East-West pipeline and Iran-Gulf Hormuz talks are delayed.
  • Strategists debate whether AI capex assumptions and crowded positioning need reassessment.
  • OCBC's Vasu Menon remains medium-term positive on equities and sees China tech opportunities.
  • DBS expects BOJ hikes and a stronger yen, warning about carry-trade unwind risk.
  • Chevron Australia sees strong long-term LNG demand and near-term upside oil price risk.
  • South Korea launches broader after-hours trading while geopolitics and energy dominate Asia trading.
Ideas
Sonny Bonga Equity Strategist, Bloomberg 2:51
AI safety push may slow semiconductor CapEx.
Coordinated warnings from Anthropic, OpenAI and Elon Musk for slower frontier AI development and more oversight could slow model training, GPU purchases and hyperscaler capex. New legal and regulatory liability questions add uncertainty, so semiconductor stocks need to price in slower capex before the cyclical outlook can resume.
SMH HIGH
Michael Hearth Deals Editor, Bloomberg 9:26
Pipeline shutdown tightens oil flows.
Saudi Arabia's East-West pipeline shutdown after attacks removes a key bypass around the Strait of Hormuz and tightens oil flows. Iran appears to be using Hormuz leverage to keep upward pressure on oil prices, and the conflict looks like a war of attrition, keeping oil supply risk elevated; the U.S. is escorting barrels but the market remains sensitive.
WTI MED
Tieying Ma Senior Economist, DBS 40:13
DBS sees stronger yen at 151.
The BOJ is expected to hike and continue normalizing as underlying inflation and wage growth converge to 2%, with the next move in December or January and terminal rates near 1.75%-2% by mid-2027. DBS forecasts USD/JPY at 151 by year-end, though record carry-trade positions and FOMC uncertainty mean the BOJ will communicate cautiously.
USD/JPY HIGH
Vasu Menon Managing Director of Investment Strategy, OCBC 53:17
Equities stay positive despite yield spike.
The medium-term backdrop for equities remains positive despite near-term volatility. The Fed is unlikely to act aggressively because inflation has run above 2% for five years, and history from 1999 shows 10-year yields above 5% can coexist with strong equity returns when growth and earnings are solid; the S&P 500 rose 14% and the MSCI All Country World Index rose over 20% then. Valuations are not excessively high.
SPY ACWI HIGH
Vasu Menon Managing Director of Investment Strategy, OCBC 56:08
China tech/internet offers investment opportunities.
Chinese technology and internet companies offer opportunities within the diverse AI space. Performance will be dispersed, so investors should invest in China but keep a diversified portfolio and be ready to rotate.
KWEB MED
Anthony Stevens Bloomberg Market Producer 64:51
AI slowdown dents visibility; longs vulnerable.
The AI safety slowdown undermines visibility on future AI cash flows into 2027 and 2028, including uncertainty over an OpenAI IPO. With investors heavily long AI stocks, the market is likely to sell first and ask questions later, creating near-term downside and volatility for AI equities.
AIQ HIGH
Balaji Krishnamurthy CFO, Uber Technologies, Inc. 74:26
LNG long-term demand remains strong.
Long-term LNG fundamentals remain strong due to population growth, electrification and data-center power demand. The Middle East conflict has caused short-term demand destruction and affordability strain, but customers are increasingly seeking long-term contracts for energy security while new supply has slipped, supporting the market.
LNG HIGH
Up Next
6:05:21
[26.09.14 Morning Broadcast Full Episode] Amid Rising Odds of a 'Rate Hike,' Oil Prices and Rates Fall... New York Stocks 'Rebound' After 5 Days
3PRO TV (삼프로TV) · Sep 14
28:55
Oil at $100, Rates at 5% Storm, Bitcoin Trapped, What's the Next Direction? | Seo Dong-ju, Kim Dong-hwan, Lee Yun-su, CEO of Eric's Master Research Institute [Crypto PLUS]
3PRO TV (삼프로TV) · Sep 14
33:06
Bitcoin Enters $80,000 Box Range, Fed Rate Hike Debate and Clarity Act | Kim Dong-hwan, Seo Dong-ju, Park Sang-hyuk, Digital Asset Editor [Crypto PLUS]
3PRO TV (삼프로TV) · Sep 14
54:37
Is the September market decline an opportunity? 'AI pace adjustment' and Samsung Electronics/SK Hynix stock direction | Yeo Do-eun, Lee Hyeok-jin [Morning N Investment]
3PRO TV (삼프로TV) · Sep 14
25:09
Oil Price Surges Again to $100... AI Also Shaken by 'Pace Adjustment' Theory / This Week's Biggest Hurdle for the Stock Market | CEO Lee Ju-yeon
815 Money Talk (815머니톡) · Sep 14

This Bloomberg Markets video, published September 14, 2026, features Sonny Bonga, Michael Hearth, Tieying Ma, Vasu Menon, Anthony Stevens, Balaji Krishnamurthy discussing SMH, WTI, USD/JPY, SPY, ACWI, KWEB, AIQ, LNG. 7 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Sonny Bonga, Michael Hearth, Tieying Ma, Vasu Menon, Anthony Stevens, Balaji Krishnamurthy  · Tickers: SMH, WTI, USD/JPY, SPY, ACWI, KWEB, AIQ, LNG