OpenAI Revenue Report Hits Tech | Bloomberg Daybreak: Asia Edition
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Business and finance news from the Asia-Pacific. Asian stocks dropped, tracking declines on Wall Street, as speculation about OpenAI's revenue revived concerns over the sustainability of the artificial-intelligence spending boom. Oil edged lower. The MSCI Asia Pacific equities index edged 0.1% lower early Friday. Japan's Nikkei fell over 1%, with Softbank Group Corp. declining more than 5%. The regional moves came after the Nasdaq 100 Index sank 1.4%, its worst day in seven weeks, while a US gauge of chipmakers slumped 3.4%. The S&P 500 Index dropped 0.5%. Markets are closed in South Korea and Taiwan. The declines in the US followed a Financial Times report that OpenAI's annualized revenue was $20 billion below previously signaled levels. The ChatGPT maker is on track for roughly $50 billion, according to people familiar with the matter. Also, Firmus Grid Ltd., an Australian data center company backed by Nvidia Corp., is set to postpone its initial public offering, according to people
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