Investing.com -- Elon Musk called for leading artificial intelligence companies to test each other's models before public release, speaking Monday at the All-In Summit in Los Angeles. The SpaceX CEO said his company's xAI business, OpenAI, Anthropic, Google, Meta and several top Chinese firms should allow competitors to run safety evaluations on their models.

"So, you know, instead of grading your own homework, you would at least have competitors grading your homework and raising the alarm if they see concerns," Musk said.

The proposal follows a weekend of warnings from AI industry leaders about the technology's potential dangers. Anthropic CEO Dario Amodei called for a slowdown in model development, receiving support from Musk and OpenAI CEO Sam Altman in a rare show of agreement among the executives.

The concerns intensified after Jacob Coxon, a former employee at both Anthropic and OpenAI, announced his resignation last week. Coxon wrote that leading AI labs are "gambling with our lives."

President Donald Trump rejected calls for AI regulation Monday, posting on Truth Social that fears over AI represent a "hoax" and a "scam." National Economic Council Director Kevin Hassett told CNBC on Tuesday that the private sector is the "right place" to address AI concerns. He said the government will continue monitoring the industry and use "law enforcement when necessary to make sure that the firms are acting responsibly."

Musk acknowledged Monday that rival AI labs have not agreed to his peer-review proposal. SpaceX acquired xAI in February. Amodei suggested in his essay that AI labs could accept third-party technology assessments from "embedded evaluators" to verify safety practices.

A spokesperson for China's Foreign Ministry called the push for an AI slowdown "fear mongering" on Monday.