Overview
- OpenAI told investors late Thursday that its annualised revenue for September was about $50 billion, roughly $20 billion lower than figures widely circulated earlier.
- That disclosure prompted a sharp repositioning in AI, semiconductor and infrastructure names and sent major US tech indexes lower as traders reduced exposure to growth bets priced for rapid revenue gains.
- Brent crude briefly climbed above $100 on Middle East hostilities and later eased after President Donald Trump said the US would not attack Iran before the midterms, leaving oil elevated and inflation risks intact.
- Corporate moves amplified volatility: SpaceX said it will buy a nationwide 800 MHz spectrum portfolio, several large firms signalled plans to raise billions to buy high‑end AI chips, and some data‑centre IPOs were pulled from the market.
- Emerging markets felt the spillover as heavy foreign institutional selling and a US PERM suspension of major outsourcing firms intensified a prior-day plunge in India that then produced a technical rebound led by TCS, and analysts warn that higher bond yields make the $1.5 trillion estimate for AI infrastructure funding much harder to finance.