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The fact that there wasn't a bigger sell off when they banned Fable 5 is ridiculous. The stock market doesn't represent real conditions at all.
Why would that trigger a sell off? It was an official US government stamp of approval that "These things are so dangerous and powerful we have to treat them as weapons." It was bullshit but it played straight into Anthropic's story.
In a "free market" it would be a worrying sign that the government can just tell one of the highest valued corporations "nope, we're not permitting you to do that, your entire business model is dictated by us". But we don't have a free market, and the stock market doesn't represent the reality of the situation, just like how valuations of AI companies keep going up even though something like GLM-5.2 exists. I think investors are probably just dumb, and we're in a bubble.