AI and semiconductor stocks plummeted on April 28, 2026. OpenAI missed its internal targets for revenue and user acquisition. These reports sparked investor concerns regarding high costs and uncertain returns on AI capital expenditures.
The selloff impacted major players across the AI ecosystem. Oracle and AMD recorded sharp declines. Market leader NVIDIA pulled back from a recent record high. The Nasdaq Composite fell more than 1%.
Investors began re-evaluating the growth narrative that has propelled the tech sector. OpenAI’s CFO highlighted concerns about the sustainability of funding future computing infrastructure. Current revenue growth rates may not support the necessary capital for future expansion.