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Anthropic CEO Says AI Industry Must Rebuild Public Trust

Anthropic CEO Dario Amodei has rejected claims that his warnings about artificial intelligence are driving public skepticism, arguing that the backlash reflects a deeper crisis of trust in companies, governments and the technology industry.

The comments followed investor Gavin Baker’s argument that Amodei’s warnings about AI risks had contributed to opposition to data centers and broader resistance to the technology in the U.S. Baker urged Amodei to take a more positive stance as the head of a major AI company.

Amodei disagreed, saying his writing has been roughly balanced between AI’s risks and benefits. He pointed to his essay “Machines of Loving Grace,” which explored how AI could transform society for the better.

Still, he acknowledged that public opinion toward AI is negative and called it “a big problem,” while rejecting the idea that AI executives warning about risks are primarily responsible.

“I think it is fundamentally a crisis of trust,” Amodei said, arguing that many people already distrust companies, governments and the technology industry.

AI Companies Need To Deliver

For Amodei, the strongest criticism of AI companies is not their messaging but the gap between their promises and results. He said the industry needs to demonstrate tangible benefits rather than simply promote them, arguing that actually curing diseases such as cancer would do more to change public opinion than promising that AI might one day do so.

Amodei Defends AI Regulation

Amodei also rejected the idea that regulation necessarily concentrates AI power among the largest companies, calling it a “false choice.” He said carefully designed rules could constrain corporate power while giving smaller competitors room to grow.

Anthropic has supported measures including transparency requirements for large AI companies. Amodei said its proposals aim to slow down frontier AI companies while benefiting smaller competitors.

He also argued that AI is “structurally” prone to concentrating power. Open-weight models can distribute some of that power, but access to computing resources and advanced chips remains concentrated.

In his view, effective regulation should address AI’s cybersecurity, biological and alignment risks while limiting the power of major AI companies and preserving room for open-weight models.

Ultimately, Amodei suggested that rebuilding trust will depend less on how the industry talks about AI and more on whether it can deliver meaningful benefits while addressing its risks.

Shein Targets $25 Billion Valuation In Hong Kong IPO As Growth Slows

Shein is reportedly targeting a valuation of around $25 billion in its planned Hong Kong IPO, a sharp decline from the nearly $100 billion valuation the online fashion retailer achieved in a 2022 fundraising round.

Two people familiar with the plans said the company was likely to target about $25 billion, while another source put the expected range at $25 billion to $28 billion based on the proposed price band.

IPO Valuation Falls Sharply

Shein plans to sell up to 8% of its shares in the offering, according to a person familiar with the plans. At a $25 billion valuation, that would translate into an IPO of as much as $2 billion.

The latest target is also below the $30 billion to $40 billion valuation the company was seeking earlier this month as it began meeting with potential investors.

Founded in China in 2012 and now headquartered in Singapore, Shein sells low-cost clothing to consumers in about 160 countries. The company is expected to launch its long-awaited Hong Kong IPO later this week.

Trade Restrictions Weigh On Growth

Shein’s valuation has come under pressure as major markets tighten rules affecting low-cost e-commerce shipments. The European Union, for example, has moved to impose additional fees on cheap parcels from platforms such as Shein and Temu. EU Tightens Rules On Low-Cost E-Commerce Parcels

In the U.S., the removal of an import duty exemption for small packages has also affected the company. Shein reported a $99 million quarterly loss in the first quarter of 2026 as sales growth slowed, while a one-time accounting charge further weighed on its results. Shein Reports First-Quarter Loss Ahead Of IPO

Investors Question Shein’s Growth Prospects

The steep reduction in valuation reflects growing concerns over slower growth, higher trade costs, regulatory pressure and stronger competition across global e-commerce.

Some investors who reviewed Shein’s recent financial statements or attended IPO presentations told Reuters they were skeptical that the company could return to the growth rates that supported its $98.2 billion valuation in 2022. Shein’s Slowing Growth Tests Investor Appetite

A lower IPO valuation could also affect Shein’s existing investors. Under the terms of its IPO filing, the company may have to issue additional shares to certain pre-IPO investors if its valuation falls below agreed thresholds.

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