Asia stocks mixed; chipmakers slide on OpenAI revenue concerns

What happened: Asian stocks recovered from early losses after a Bloomberg report said OpenAI expects annualized revenue to reach or exceed $70 billion by year-end, easing AI demand concerns. U.S. Why it matters: The revenue outlook eased concerns after reports that OpenAI's annualized revenue ran about $20 billion below earlier indications, which had triggered selling in chipmakers and AI-exposed companies. Firmus shelved a roughly $5 billion IPO, citing market volatility. Market: -2.6% by next close ($55.95 on Oct 12), -31.0% YTD Coverage: 4 outlets in 24h

Asian stocks recovered from early losses after a Bloomberg report said OpenAI expects annualized revenue to reach or exceed $70 billion by year-end, easing AI demand concerns. U.S.

The revenue outlook eased concerns after reports that OpenAI's annualized revenue ran about $20 billion below earlier indications, which had triggered selling in chipmakers and AI-exposed companies. Firmus shelved a roughly $5 billion IPO, citing market volatility. Market: -2.6% by next close ($55.95 on Oct 12), -31.0% YTD