OpenAI Revenue Forecast Lifts Tech Shares as Crude Oil Slips
OpenAI's revenue outlook eased valuation worries and lifted U.S. and Asian equity markets. S&P 500 futures rose 0.3% and Nasdaq 100 futures gained 0.5%, while Brent crude fell 1.2% to $102.95 on reduced Middle East risk. Gold climbed 1.1% to about $4,175 an ounce as long-term Treasury yields retreated from two-decade highs.
OpenAI projected its annualized revenue could reach or surpass $70 billion by year-end, supported by enterprise operations. That outlook eased worries about AI valuations after an earlier disclosure showed a $20 billion shortfall versus prior figures, which had triggered a tech selloff and a 3.4% slide in chip shares.
U.S. equity futures and Asian stocks advanced, while Brent fell 1.2% to $102.95 after President Trump said Iran would not be attacked before November's midterms. Gold rose 1.1% to roughly $4,175 as long-term Treasury yields eased from two-decade peaks; Japan's 10-year yield dropped 5.5 basis points to 3.025%.
The moves may influence household portfolios and retirement savings tied to equities and bonds. Cheaper oil, if sustained, could ease transport and energy costs, while higher gold and lower long-term yields may signal shifting risk appetite. Tech firms and AI startups could face continued scrutiny over whether revenue justifies valuations, affecting hiring and investment. Currency shifts may matter for exporters and importers.