Netweb Technologies, E2E Networks and Black Box Slide as Global AI Selloff Reaches Indian Stocks

Indian companies tied to artificial intelligence and data-centre infrastructure came under selling pressure on September 15, following a difficult overnight session for technology stocks in the US. 

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Netweb Technologies was among the hardest hit, falling 6.77% to ₹4,686.50 on the NSE at 1:55 pm. E2E Networks lost 5% to trade at ₹579.85, while Black Box was down 5.42% at ₹757.40. Anant Raj saw a relatively smaller decline of 0.85% to ₹593.25. 

The weakness followed a renewed debate over how quickly advanced artificial intelligence systems should be developed, which weighed particularly heavily on semiconductor stocks overseas. 

US Chip Selloff Spills Over to Indian AI Stocks 

Technology shares had already faced a sharp selloff in the US, led by chipmakers including Nvidia and Broadcom. A semiconductor gauge dropped 5.9%, while the Nasdaq 100 finished 0.8% lower. 

The change in sentiment came after a 3,800-word letter by Anthropic CEO Dario Amodei called for slowing the development of the most advanced AI systems over concerns about the risks posed by the technology. The proposal was endorsed by OpenAI CEO Sam Altman and SpaceXAI CEO Elon Musk. 

Microsoft’s AI researchers have separately released a 15,000-word manifesto setting out principles for the development of advanced AI models, centred on the view that people should take precedence over artificial intelligence. 

US President Donald Trump opposed calls for a slowdown and criticised the push for additional restrictions around AI development. 

Oil and Bond Yields Add to an Already Cautious Session 

AI was not the only issue weighing on the broader market mood. Brent crude moved above $105 a barrel, bringing inflation concerns back into focus ahead of the Federal Reserve’s policy decision. 

The US 10-year Treasury yield was also hovering near 5%. 

Against that global backdrop, the selling reached Indian companies whose businesses are associated with AI computing and data-centre infrastructure. Netweb Technologies, E2E Networks and Black Box recorded declines of 5-7% during the session, while Anant Raj remained comparatively less affected. 

The moves on September 15 followed the weakness in global technology shares rather than a company-specific development identified in the report for any of the four Indian stocks.