OpenAI-linked stocks slump
- OpenAI-linked stocks fell Tuesday after a Wall Street Journal report said the ChatGPT maker missed internal targets for revenue and new users. - SoftBank dropped about 10% in Tokyo, while Oracle fell 6.3% and CoreWeave 8% as investors reassessed OpenAI’s spending outlook. - The selloff hit as Stargate plans hundreds of billions in AI infrastructure spending. (openai.com)
OpenAI-linked stocks fell Tuesday after a Wall Street Journal report said OpenAI missed internal targets for revenue and new users. (bloomberg.com) (finance.yahoo.com) SoftBank, one of OpenAI’s biggest backers, dropped about 10% in Tokyo trading. Oracle fell 6.3% in New York, and CoreWeave dropped 8%, according to Bloomberg’s market roundup. (finance.yahoo.com) (bloomberg.com) The Wall Street Journal report, as cited by Bloomberg and Reuters, said OpenAI missed several monthly sales targets in 2026 and failed to hit an internal goal of 1 billion weekly ChatGPT users by the end of 2025. (bloomberg.com) (y94.com) The immediate market worry was not just slower growth. It was whether OpenAI can generate enough cash to support the huge computing contracts and data-center buildouts tied to its expansion plans. (y94.com) (nytimes.com) That concern lands in the middle of Stargate, the infrastructure push OpenAI, Oracle, and SoftBank have been using to build new United States AI data centers. OpenAI said in September that five new sites would bring Stargate to nearly 7 gigawatts of planned capacity and more than $400 billion in investment over three years. (openai.com) (group.softbank) Oracle and CoreWeave sold off because both companies are closely tied to the business of supplying OpenAI with computing power. Reuters said investors were reassessing the growth assumptions behind those contracts after the Journal report. (money.usnews.com) (y94.com) Bloomberg said markets tend to treat a small cluster of companies as proxies for OpenAI, including SoftBank, Oracle, Microsoft, CoreWeave, Nvidia, and Advanced Micro Devices. Tuesday’s drop showed how quickly a private company’s internal targets can ripple into public markets. (bloomberg.com) The report also sharpened a debate that has been building for months across the AI trade: whether demand is growing fast enough to justify hundreds of billions of dollars in chips, power, and cloud capacity. Tuesday’s selloff was the market’s first blunt answer. (nbcnews.com) (bloomberg.com)
