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The Economic Times
The Economic Times
Business

Tech stocks drag Nasdaq lower on report of OpenAI revenue fall, high yields

OpenAI United States US Federal Reserve Christopher Waller Oil

Megacap technology stocks dragged US equity indexes lower as concerns grew that OpenAI’s revenue could disappoint investors already questioning the sustainability of the AI boom, Bloommberg reported.

The Financial Times reported that ChatGPT-maker OpenAI’s annualised revenue was $20 billion below the amount it had previously indicated.

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