By Ines Ferré
Publication Date: 2026-04-28 13:06:00
What happened: oracle (ORCL), AMD (AMD), CoreWeave (CRWV) and other AI-driven names sank on Tuesday. Oracle and CoreWeave led the losses, down 4% and 5%, respectively.
What’s behind the move: Investors sold shares of companies affiliated with OpenAI (OPAI.PVT) after the Wall Street Journal reported that the AI developer recently missed revenue and user targets, again raising concerns about overspending in the industry.
Citing people familiar with the matter, the report said the startup did not meet its internal goal of 1 billion weekly active users for OpenAI’s ChatGPT by year’s end. It also reportedly missed its annual sales target for the product. Meanwhile, Google’s (GOOGL, GOOG) Rival AI bot Gemini grew last year, cutting into OpenAI’s market share.
Shares of companies with OpenAI partnerships, including cloud and software giant Oracle and data center provider CoreWeave, were under pressure. Chip manufacturers AMD and Nvidia (NVDA) also declined.
What else…
