AI Revenue Questions Pull Semiconductor Stocks Off October Highs

What happened: Semiconductor stocks fell in the week ended October 9 after the Financial Times reported OpenAI told investors its annualized revenue was nearing $50 billion at the end of September, below the roughly $70 billion cited in media reports. Key numbers: OpenAI annualized revenue near $50 billion versus about $70 billion cited in media reports. Why it matters: Semiconductor valuations are closely tied to expectations for AI infrastructure spending, so the report weighed on the group. The PHLX Semiconductor Index finished the week lower while the broader market was more resilient.

Semiconductor stocks fell in the week ended October 9 after the Financial Times reported OpenAI told investors its annualized revenue was nearing $50 billion at the end of September, below the roughly $70 billion cited in media reports.

Semiconductor valuations are closely tied to expectations for AI infrastructure spending, so the report weighed on the group. The PHLX Semiconductor Index finished the week lower while the broader market was more resilient.