By Intense Life Desires 
Shares of AI-related firms experienced a downturn following reports of OpenAI missing user and revenue targets, sparking concerns about its growth prospects. This news impacted major partners like Oracle and Arm Holdings, with investors fretting over funding for ambitious data-center plans. The situation arises as OpenAI prepares for a potential $1 trillion IPO.
Oracle Corporation shares fell 3.4% to $167.3. The AI cloud firm is reportedly finalising a massive $300 billion, five-year computing deal with OpenAI. CoreWeave, which signed a $11.9 billion contract with OpenAI last month, saw its shares decline 2.8%. Meanwhile, Arm Holdings, a chipmaker that counts OpenAI among its clients, dropped 6.3%. (Read more)