OpenAI-Linked Stocks Slump on Report of Startup Missing Targets
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k[54yoa6koj2tpy9cxu}dguv_media_dl_1.png BloombergArticle content(Bloomberg) — Shares in OpenAI partners such as SoftBank Group Corp. and Oracle Corp. are falling after the Wall Street Journal reported that the AI startup recently failed to meet targets for sales and new users, reviving worries about spending ahead of tech earnings. Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentSoftBank tumbled as much as 11% in Tokyo, while CoreWeave Inc., Oracle and Advanced Micro Devices Inc. fell by about 3% in US premarket trading. While OpenAI has struck deals with dozens of firms, markets tend to focus on a smaller subset of major partners including Nvidia Corp., SoftBank, Oracle, Microsoft Corp., Coreweave and AMD as investment proxies for the creator of ChatGPT.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentArticle contentInvestors are on high alert for evidence that tech companies are staying committed to previously-announced plans for huge capital expenditure to build out AI infrastructure. Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article content“That’s what the market needs to see to keep the AI narrative intact,” said Amanda Lyons, head of research at Energy Group Capital. “The nuance is that it’s a narrow path: any hint of slowing spend would be taken negatively for the ecosystem, but a sharp step-up would likely raise questions around returns and sustainability.”Article contentA basket of companies connected to OpenAI has underperformed peers significantly in recent months, rising by about 75% since the end of 2024 compared with gains of more than 300% for a similar group of Alphabet Inc.-tied stocks.Article contentOpenAI, once at the forefront of the artificial intelligence frenzy, fell short of several monthly sales targets in 2026 after rival Anthropic PBC gained ground in the coding and enterprise markets, the Journal reported Monday, citing unidentified people familiar with the matter.Article contentPerceptions about OpenAI’s leadership shifted last fall after Alphabet’s Gemini AI model and Anthropic’s Claude received broad acclaim. These updates from consumer and business-focused rivals have sparked repeated selloffs in companies considered proxies for OpenAI. Article content“OpenAI’s growth has been phenomenal since the release of ChatGPT but competitors are stealing a march from both sides,” said Anna Macdonald, investment strategy director at Hargreaves Lansdown.Article content—With assistance from Ruhell Amin.Article contentTrending Carney launches $25-billion sovereign wealth fund that will allow Canadians to share in profits Economy Rogers offering buyout packages to roughly half of its staff Telecom Subscriber only. How a collapsing rental market is costing some homeowners more than they bargained for Subscriber only Real Estate Posthaste: Deficits are climbing across Canada, but this province is awash in red ink News Canada doesn't have the leverage over the U.S. it seems to think it has, says trade lawyer Economy Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Carney launches $25-billion sovereign wealth fund that will allow Canadians to share in profits Economy Rogers offering buyout packages to roughly half of its staff Telecom Subscriber only. How a collapsing rental market is costing some homeowners more than they bargained for Subscriber only Real Estate Posthaste: Deficits are climbing across Canada, but this province is awash in red ink News Canada doesn't have the leverage over the U.S. it seems to think it has, says trade lawyer Economy