US stock exchanges: AI stocks are weighing on Wall Street - strong demand is curbing the rise in US bond yields
A report on lower sales at OpenAI weighs on US stock markets. At the same time, strong demand is curbing the rise in US bond yields.
The Nasdaq technology exchange experienced significant losses on Thursday due to declines in artificial intelligence (AI) stocks. This was triggered by a media report on the revenue of OpenAI, the developer of ChatGPT, which raised concerns about the sustainability of AI investments. The Dow Jones and S&P 500 indexes were only slightly lower, with the Dow Jones at 50,960 points, down 0.4%, and the S&P 500 at 7,770 points, also down 0.4%.
The Nasdaq fell 1.3% to 27,191 points, while the Nasdaq 100 dropped 0.6% to 30,969 points. According to a Financial Times report, OpenAI's annualised revenue was almost $50 billion as of late September, $20 billion lower than previously stated.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
