SoftBank Group shares plunged 11.2% in Japan on Monday after OpenAI CEO Sam Altman backed Anthropic CEO Dario Amodei’s call for the AI industry to slow development to ensure its safety. Altman also said in an interview published Saturday that OpenAI would not pursue an initial public offering this year as the company focuses on safety.

SoftBank is a key investor in OpenAI, which remains privately held along with Anthropic, although both companies are expected to list publicly in the months ahead. Dan Baker of investment research firm Morningstar said SoftBank’s decline probably reflected the possibility that regulators could slow AI development to avoid the worst-case outcomes discussed by Anthropic and OpenAI, as well as concerns that further examples of lost control over newer AI models could impede development.

Other technology shares also declined. South Korean memory-chip maker SK Hynix fell 5.3%, Samsung Electronics lost 2.8%, Japanese memory maker Kioxia Holdings sank 6%, and chip-equipment manufacturer Tokyo Electron dropped 0.9%. South Korea’s Kospi declined 2.5% to 6,739.68, Japan’s Nikkei 225 slid 0.8% to 63,474.58 and Taiwan’s Taiex fell 0.6%.

Asian markets were mixed overall. Hong Kong’s Hang Seng rose 0.3% to 24,886.81, the Shanghai Composite gained 0.2% to 3,894.28, and Australia’s S&P/ASX 200 added 0.1% to 8,747.60. U.S. futures edged lower after the S&P 500 gained 0.9% on Friday, ending a four-day losing streak, while the Dow Jones Industrial Average rose 1%.

Oil prices rose more than 3% as concerns increased over global supplies after Saudi Arabia shut a major pipeline used to help bypass the Strait of Hormuz following an attack. Brent crude climbed 3.2% to $107.94 a barrel, compared with roughly $72 before the war in Iran began in late February, while benchmark U.S. crude gained 3.2% to $103.26. ING commodities strategists Warren Patterson and Ewa Manthey said prospects for de-escalation in Iran and reopening the strait may have diminished, although the situation remained fluid and sizeable oil volumes were still moving through the waterway.