Economy / Markets
Nasdaq slides 1.25% as a report on OpenAI's revenue hits chipmakers
US stocks ended mixed on October 8 after a Financial Times report that OpenAI's annualised revenue was about $20 billion below earlier estimates reignited doubts about AI spending, sending chip shares sharply lower. The Nasdaq Composite fell 1.25% to 27,193.34, the S&P 500 slipped 0.47% to 7,765.36, while the Dow Jones Industrial Average edged up 0.10% to 51,231.64. Micron, Nvidia, AMD and Intel were among the biggest fallers, while energy and staples led sector gains.