OpenAI Revenue Shortfall Hits AI and Chip Stocks

U.S. equities weakened as AI and semiconductor stocks sold off after OpenAI’s reported $50B annualised revenue, well below expectations, stoking doubts over debt‑funded AI infrastructure demand. The Nasdaq fell 1.25%, the S&P 500 0.47%, while the Dow eked out a small gain. Crude rose above $103 amid fresh tanker attacks and U.S. output disruptions, keeping inflation worries elevated even as the 10‑year yield eased to ~5.23% after a strong auction.

In India, the rupee held near 96.78, and Nifty broke key supports at 22,217 and 22,182, closing at 22,603. The downtrend has intensified, with 21,750 as the next major support and 22,400–22,600 acting as near‑term resistance.