CoreWeave and Oracle shares fell Friday following reports that OpenAI may delay its initial public offering until 2027.
OpenAI reportedly aims for a $1 trillion valuation and cited market volatility for the potential delay. This news sparked investor concerns regarding the sustainability of global AI infrastructure spending.
CoreWeave serves as a primary infrastructure partner for OpenAI through a multi-year deal worth up to $22 billion. The stock movement underscores how OpenAI's trajectory directly influences the valuations of its key suppliers.