US Tech 100 Tumbles as OpenAI's Annualized Revenue Trails Market Expectations

The Nasdaq 100 slid over 300 points in roughly 30 minutes, dragging US tech equities down after OpenAI disclosed annualized revenue of nearly $50 billion at the end of September. The figure trailed earlier street estimates of $68 billion to $70 billion by roughly $20 billion, driven by accounting differences regarding cloud distribution partner sales. The shortfall sparked broad selling across AI infrastructure and semiconductor names, with Oracle sliding 5.15% to $136.21 and Nvidia dropping 2.60% to $231.29, compounding pressure from multi-decade high Treasury yields and Brent crude exceeding $100 per barrel.