Tech shares slide after report says OpenAI annualized revenue neared $50 billion
AI Market Summary
Tech shares slid after a Financial Times report said OpenAI's annualized revenue is nearing $50B, which nonetheless amplified investor skepticism about AI sector profitability and capex intensity. Nvidia fell nearly 3% as AI bellwether sentiment softened, while Oracle dropped over 5% amid concerns tied to its leveraged buildout of computing capacity for OpenAI and others. The move weighed broadly on AI-linked equities.
Impact level
● Medium
Affected assets
NCSKNVDA2USD/USDT-2.26%
AI Insight · NCSKNVDA2USD/USDTAI Insight
▼ Bearish
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Technology stocks fell on Thursday as investors weighed concerns about the profitability of artificial intelligence. The Financial Times reported that OpenAI told investors its revenue was approaching $50 billion on an annualized basis toward the end of last month. Nvidia, seen as an AI bellwether, slipped nearly 3%. Oracle, which has borrowed heavily to supply computing capacity to OpenAI and other firms, dropped more than 5%, adding to the sector’s decline.
