AIET Techabout 2 hours ago
OpenAI Revenue Falls, Dragging Tech Stocks
3 min read
OpenAI annualised revenue dropped $20 billion below previous guidance, causing the Nasdaq 100 to fall 1.9% and the Philadelphia semiconductor index to drop 3.5%. The 10-year Treasury yield rose to 5.3%, while chip stocks fell as investors reacted to the report and hawkish Federal Reserve comments regarding interest rates.
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