California governor Gavin Newsom vetoes landmark AI bill

Published On Sep 29, 2024, 9:53 PM

California Governor Gavin Newsom has vetoed a significant AI safety bill that aimed to impose regulations on artificial intelligence, including safety testing for advanced AI models and the requirement of a kill switch. Newsom argued that the bill could stifle innovation and potentially drive AI companies out of California, stating it did not adequately consider the context in which AI systems are deployed. Critics, including the bill's author Senator Scott Wiener, believe this veto allows technology to develop without necessary oversight.

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Stock Forecasts

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The veto of the AI safety bill is likely to be viewed positively by major technology companies, particularly those operating in California's Silicon Valley, as it removes potential regulatory obstacles. This can encourage further investment and innovation within this sector. Therefore, technology stocks, especially those involved in AI development, may see an upward trend in response to the news.

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