Overview
- A widely reported New York Times account said OpenAI is considering delaying its IPO until next year, a claim that has not been confirmed by the company.
- U.S. markets opened lower after the story, with the S&P 500 and Nasdaq selling off and losses later narrowing as trading progressed.
- Shares of AI hardware and chip makers moved sharply, with Micron, AMD and Intel each falling about 2% on early trade.
- Asian markets saw heavier hits led by SoftBank Group, which fell more than 12% after investors linked the report to the value of major OpenAI backers.
- Traders at JPMorgan warned that a postponed IPO could force companies to reassess costly AI infrastructure spending, which could reduce demand for chips and data-center gear and prompt broader valuation adjustments in the AI supply chain.