OpenAI's Revenue Warning Triggers Big Tech Selloff | Closing Bell
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Watch comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Jess Menton, Carol Massar and Stacey Vanek Smith. A selloff in chipmakers weighed on stocks as speculation around OpenAI’s revenue revived worries that the artificial-intelligence spending spree is becoming harder to justify. Tech shares led losses in the S&P 500 on reports that annualized revenue at the ChatGPT maker will be lower than some estimates for the firm. The Nasdaq 100 fell 1.4%. A gauge of chip giants sank 3.4%. Oil jumped, but settled below session highs as President Donald Trump said the US won’t attack Iran before the midterm elections. Treasuries rose on a solid sale of 30-year bonds. -------- Watch Bloomberg Radio LIVE on YouTube Weekdays 7am-6pm ET Saturday & Sunday 7am-10am ET WATCH HERE: http://bit.ly/3vTiACF Follow us on X: https://twitter.com/BloombergRadio Subscribe to our Podcasts: Bloomberg Daybreak: http://
Tags: Carol Massar, Romaine Bostick, Stacey Vanek Smith, jess menton
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