OpenAI's Revised Revenue Report Sparks AI Sector Sell-Off
U.S. stock futures were nearly unchanged after OpenAI reported lower-than-expected annualized revenue, causing a sell-off in artificial intelligence stocks and dragging down broader indices like the S&P 500 and Nasdaq Composite. The tech-heavy Nasdaq fell more than 1%, marking its largest single-day drop since mid-August. AI-related companies such as CoreWeave, Oracle, Intel, Super Micro Computer, AMD, and Nvidia all experienced significant declines. The broader market saw the S&P 500 fall by 0.5% for a second consecutive day in red, while the Dow managed to stay slightly positive. Investors are now watching Delta Air Lines' earnings report on Friday as well as October consumer sentiment data for further guidance.
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Topics: AI stocks Nasdaq Composite OpenAI revenue report S&P 500 SpaceX deal