OpenAI missed several sales targets after rival Anthropic PBC gained ground in the coding and enterprise markets, the Wall Street Journal reported. Stocks remained lower even as the ChatGPT creator pushed back against those concerns, saying its consumer and enterprise businesses are “firing on all cylinders.”
(April 29) : Stocks in Asia are set for a subdued start after a tech-led selloff dragged down US benchmarks, as doubts resurface over whether massive spending in artificial intelligence will pay off — just as traders brace for a wave of megacap earnings.
Equity futures signaled Sydney will open lower, while Hong Kong is set for a modest gain. Tokyo is closed for a holiday. S&P 500 contracts were steady after the US benchmark dropped from a record following a news report that OpenAI failed to meet its own goals for new user acquisition and sales. That fueled worries the firm may struggle to support its AI infrastructure spending — which saw partners such as Oracle Corp. and CoreWeave Inc. slump.
