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<US>OpenAI Reportedly Misses Revenue Targets; Chip Stocks Slump, Nasdaq Leads Losses, Down 165 Points
Reports that OpenAI delivered weak performance and rising oil prices weighed on the market, with US stocks trading mixed on Tuesday. The Nasdaq led losses, falling 165 points or 0....
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<US>OpenAI Reportedly Misses Revenue Targets; Chip Stocks Slump, Nasdaq Leads Losses, Down 165 Points
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Reports that OpenAI delivered weak performance and rising oil prices weighed on the market, with US stocks trading mixed on Tuesday. The Nasdaq led losses, falling 165 points or 0.7% in early trading. The DJIA opened up 109 points or 0.2%, while the S&P 500 opened down 40 points, a decline of 0.6%.

OpenAI reportedly failed to meet recent new user and revenue targets, triggering a broad sell-off in chip stocks. Oracle Corporation (ORCL.US)      , Broadcom Inc. (AVGO.US)      and Advanced Micro Devices, Inc. (AMD.US)      fell 3%. NVIDIA Corporation (NVDA.US)      , Intel Corporation (INTC.US)      and CoreWeave, Inc. (CRWV.US)      declined 2%.

Related NewsPPI MoM for Apr in United States is 1.4%, higher than the previous value of 0.7%. The forecast was 0.5%.
Among earnings-related stocks, Coca-Cola Company (The) (KO.US)      surged more than 5% after first-quarter revenue beat expectations and the company raised its full-year earnings guidance. Spotify Technology S.A. Ordinary Shares (SPOT.US)      dropped about 11% after results, while United Parcel Service, Inc. (UPS.US)      fell 5%.

(me/t)(Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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