WS #15601
Semiconductor stocks dropped 3.39% as OpenAI's reported $50 billion revenue fell short of the $70 billion consensus, triggering a reassessment of AI monetization timelines. Executives at OpenAI and Anthropic are reportedly preparing for potential catastrophic incidents, adding regulatory overhang to the sector. Despite the selloff, concentration remains extreme with 42 AI names driving index earnings, suggesting a crowded trade vulnerable to further multiple compression.
AI Revenue Miss and Semi Selloff
Semiconductor stocks dropped 3.39% as OpenAI's reported $50 billion revenue fell short of the $70 billion consensus, triggering a reassessment of AI monetization timelines. Executives at OpenAI and Anthropic are reportedly preparing for potential catastrophic incidents, adding regulatory overhang to the sector. Despite the selloff, concentration remains extreme with 42 AI names driving index earnings, suggesting a crowded trade vulnerable to further multiple compression.