OpenAIPrivate▼ Negative
Capitalrelevance
OpenAI is considering pausing its IPO until 2027, which is a negative signal for its near-term capital raising prospects.
Wall Street's major indexes were slightly higher on Friday as the technology sector continued its selloff after mounting concerns over elevated AI-related valuations and OpenAI considering pausing its IPO until 2027. The benchmark S&P 500 was last up 0.2%, while the Nasdaq Composite added 0.1% and the blue-chip Dow rose 0.2%. AI and memory stocks saw declines, dragging the Nasdaq, after OpenAI reportedly is considering pushing its IPO to 2027. Treasury yields were slightly lower, with the 10-year yield down 2 basis points at 4.38% and the 2-year yield dropping 5 basis points to 4.09%. In economic news, wholesale inventories grew 0.3% month-over-month to $944.0 billion in May, in line with consensus. Bitcoin fell below $60,000 after the latest inflation data showed the PCE Index rising 4.1% year-over-year in May, well above the Federal Reserve's 2% target.
OpenAI is considering pausing its IPO until 2027, which is a negative signal for its near-term capital raising prospects.