Tech stocks drop on a report that OpenAI missed revenue targets [Yahoo! Finance]
Advanced Micro Devices, Inc. (AMD)
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Source: Yahoo! Finance
SoftBank, Oracle, and CoreWeave, which have struck major deals with OpenAI, were hardest hit. A report that OpenAI missed some key targets hit the tech sector hard on Tuesday. The ChatGPT maker fueled a big risk-off move, with investors dumping tech shares as they digested a report from The Wall Street Journal that said OpenAI missed on revenue and other key targets in 2025. Other metrics the Sam Altman-led firm fell short of include goals for new user growth and its goal to hit 1 billion weekly active users by the end of the year, the report said. The news comes ahead of OpenAI's hotly anticipated IPO , and is casting more doubt on the AI trade at a time when investors were already concerned about high valuations and whether the billions spent on data centers will be worth it from a return-on-investment perspective. Here's where US indexes stood around at the 4 p.m. ET closing bell: S&P 500 : 7,138.80, down 0.49% Dow Jones Industrial Average : 49,141.93, down 0.05% (-2
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