US stock exchanges: Wall Street closes in the red – significant losses in AI stocks due to OpenAI sales
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 fell sharply on Thursday due to significant losses in artificial intelligence stocks, triggered by a media report on the revenue of OpenAI, the developer of ChatGPT. According to the Financial Times, OpenAI's annualised revenue was almost $50 billion as of late September, $20 billion lower than previously stated.
The Dow Jones remained largely unchanged at 51,231 points, while the Nasdaq fell 1.3% to 27,193 points. US President Donald Trump also denied media reports of imminent military action against Iran, stating that the US would not attack before the November 3 elections. Oil prices rose, with Brent and WTI increasing by 5.2% to $105.46 and $92.84 per barrel, respectively.
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.
