A global tech selloff intensified, dragging down the Nasdaq and other international indexes. Investors expressed growing concern over high AI valuations and the massive capital required for infrastructure.
Chipmakers in Asia, Europe, and the U.S. faced severe declines. Markets remain anxious over whether heavy AI spending will translate into sustainable profits.
OpenAI is reportedly considering a delay of its initial public offering until 2027. Volatile market conditions and the weak performance of recent major listings influenced this potential postponement.
The delay impacts major investors like SoftBank. This move has amplified nervousness regarding the public market's appetite for high-flying AI stocks.