Technology shares fell on Thursday after the Financial Times reported that OpenAI’s annualized revenue was about $50 billion, roughly $20 billion below figures previously given to investors.
The Nasdaq Composite dropped 1.25% to 27,193.34 and the S&P 500 lost 0.47% to 7,765.36. Companies tied to AI infrastructure took the biggest hits: CoreWeave fell nearly 8%, Oracle 5.5% and Nvidia 2.9%.
OpenAI later reaffirmed its prior expectations, and stocks recovered on Friday, when the S&P 500 rose 0.6% to 7,811.54.
The episode shows how much of this year’s rally rests on AI. Information technology stocks are up about 30% this year, more than twice the S&P 500’s 14% gain.
Sources
- Wealth Professional, AI selloff drags Nasdaq, Oct 8, 2026
- LPL Research, Weekly Market Performance, Oct 9, 2026
- AP via La Nación, how major US stock indexes fared, Oct 9, 2026
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