OpenAI Misses Targets, AI Stocks Drop 3-4%

Shares of AI‑capex‑sensitive firms fell, with Oracle and CoreWeave down ~3.5% and AMD off 2.7% after WSJ report.
OpenAI missed its goal of 1 billion weekly active ChatGPT users by end‑2024 and fell short of annual revenue amid Gemini competition.
CFO Sarah Friar warned funding constraints for future compute contracts and questioned the timing of a year‑end IPO.
OpenAI raised $122 billion in its largest funding round, expecting to burn it within three years even if revenue targets are met.