Dow Jones, S&P 500, Nasdaq: Techwerte erholen sich nach neuer KI-Angst

As the trading week came to a close, Wall Street's mood improved. The major indexes opened higher or remained unchanged at the beginning of trading. The Dow Jones Transports, made up of blue-chip stocks, held steady at 51,356 points. The S&P 500, a broader gauge, also showed little change, sitting at 7,783. The Nasdaq, a technology-focused exchange, rose slightly to 27,282 points. The Nasdaq 100, a measure of the 100 largest non-financial companies by market capitalization, remained essentially flat at 30,795.

Earlier that day, a surge in losses for technology stocks hit the Nasdaq hard. This was triggered by a media report about the revenue of ChatGPT developer OpenAI, fueling fears that the high tech spending was becoming increasingly difficult to justify. According to the "Financial Times", OpenAI recently informed investors that its revenue for 2023, on an annualized basis, reached nearly $50 billion, which is about $20 billion less than previously reported.

Later that same day, a Bloomberg report quoted insiders saying OpenAI aims to hit $70 billion in annual revenue by the end of 2026, primarily driven by business growth. The upward revision seemed to ease the market's concerns. However, many analysts still view the high valuations of AI companies as overstated, especially given that these companies continue to operate at a loss. Critics argue that even the impressive growth rates do not justify such lofty valuations.