Major US stock indices opened higher on Thursday at Wall Street, with the Dow rising 0.1 to 0.2%, the S&P 500 gaining 0.3 to 0.4%, and the Nasdaq climbing 0.7 to 0.8%. Technology stocks rebounded after Wednesday’s session marked by a 1.25% plunge in the Nasdaq (-345.35 points to 27,193.34), triggered by a Financial Times report on OpenAI’s revenues. The Financial Times reported that OpenAI’s annualized revenues stood at approximately $50 billion at the end of September, versus earlier expectations of $70 billion. A counter-report from Bloomberg indicated that OpenAI expected to reach or exceed the $70 billion mark by year-end, which fueled the market rebound. This episode illustrates the impact that conflicting AI news can have on markets within just 24 hours.
Source: Read the original article
