{"id":72766,"date":"2026-10-08T16:38:12","date_gmt":"2026-10-08T20:38:12","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-selloff-intensifies-on-openai-revenue-outlook-while-markets-weigh-geopolitical-shifts\/72766\/"},"modified":"2026-10-08T16:38:12","modified_gmt":"2026-10-08T20:38:12","slug":"tech-selloff-intensifies-on-openai-revenue-outlook-while-markets-weigh-geopolitical-shifts","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-selloff-intensifies-on-openai-revenue-outlook-while-markets-weigh-geopolitical-shifts\/72766\/","title":{"rendered":"Tech Selloff Intensifies on OpenAI Revenue Outlook While Markets Weigh Geopolitical Shifts"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>U.S. technology stocks plummeted<\/strong> as reports indicated <strong>OpenAI<\/strong> is on track for <strong>$50 billion in annualized revenue<\/strong>, significantly missing earlier projections of <strong>$70 billion<\/strong>.<\/li>\n<li>The <strong>Nasdaq Composite (<a href=\"\/stock\/IXIC\">IXIC<\/a>)<\/strong> dropped <strong>1.23%<\/strong> and the <strong><a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a> (<a href=\"\/stock\/SPX\">SPX<\/a>)<\/strong> fell <strong>0.45%<\/strong>, driven by a <strong>3.4% slide<\/strong> in a key semiconductor index.<\/li>\n<li><strong>Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>)<\/strong> announced a major product launch for <strong>October 27<\/strong>, featuring a <strong>touch-screen Mac<\/strong> and a new <strong>iPad Mini<\/strong>.<\/li>\n<li><strong>Coca-Cola (<a href=\"\/stock\/KO\">KO<\/a>)<\/strong> is reportedly exploring a sale of <strong>Costa Coffee<\/strong> for approximately <strong>$5 billion<\/strong>, signaling a strategic retreat from the retail coffeehouse market.<\/li>\n<li><strong>SpaceX<\/strong> secured FCC approval for a massive expansion, including the launch of <strong>15,000 Starlink Gen2 satellites<\/strong> and the acquisition of a nationwide <strong>800 MHz spectrum portfolio<\/strong>.<\/li>\n<\/ul>\n<h2>Tech Sector Rattled by OpenAI Revenue Miss<\/h2>\n<p>The artificial intelligence investment boom faced a reality check on Thursday as reports surfaced that <strong>OpenAI<\/strong> is generating roughly <strong>$50 billion in annualized revenue<\/strong>. While substantial, this figure falls well short of the <strong>$70 billion run rate<\/strong> investors had previously anticipated, sparking fresh concerns about the sustainability of massive AI infrastructure spending.<\/p>\n<p>The news triggered an intensified selloff in semiconductor shares, with the <strong>Nasdaq 100 (<a href=\"\/stock\/NDX\">NDX<\/a>)<\/strong> falling <strong>1.4%<\/strong>. Investors are increasingly wary of rising borrowing costs and the high capital expenditures required for computing power, leading to a broader retreat from high-growth technology names.<\/p>\n<h2>Apple Sets Launch Date; SpaceX Expands Satellite Dominance<\/h2>\n<p><strong>Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>)<\/strong> provided a bright spot for hardware enthusiasts, scheduling a product event on or around <strong>Tuesday, October 27<\/strong>. The tech giant is expected to debut a highly anticipated <strong>touch-screen Mac<\/strong> alongside a refreshed <strong>iPad Mini<\/strong>, marking a significant shift in its laptop design philosophy.<\/p>\n<p>In the aerospace sector, <strong>SpaceX<\/strong> reached a milestone with the <strong>FCC<\/strong> approving the launch of <strong>15,000 Starlink Gen2 satellites<\/strong>. The company also agreed to acquire a nationwide <strong>800 MHz low-band spectrum portfolio<\/strong>, further solidifying its infrastructure for global broadband and mobile backhaul services.<\/p>\n<h2>Corporate Shakeups at Coca-Cola and Starbucks<\/h2>\n<p><strong>Coca-Cola (<a href=\"\/stock\/KO\">KO<\/a>)<\/strong> is looking to unwind its <strong>$5 billion acquisition<\/strong> of <strong>Costa Coffee<\/strong>, according to reports from <em>Semafor<\/em>. The move suggests the beverage giant is shifting its focus away from operating physical coffeehouse locations to prioritize its core bottling and distribution business.<\/p>\n<p>Meanwhile, <strong>Starbucks (<a href=\"\/stock\/SBUX\">SBUX<\/a>)<\/strong> addressed recent market rumors regarding a potential deal with <strong>Chipotle (<a href=\"\/stock\/CMG\">CMG<\/a>)<\/strong>. The company stated it is &quot;laser-focused&quot; on its existing &quot;<strong>Back to Starbucks<\/strong>&quot; strategy, emphasizing that it has strong momentum and confidence in its independent long-term growth potential.<\/p>\n<h2>Geopolitical Developments and Energy Markets<\/h2>\n<p><a href=\"https:\/\/stockmarketwatch.com\/energy\/crude-oil\" data-internallinksmanager029f6b8e52c=\"12\" title=\"Crude oil\">Oil prices<\/a> finished below session highs after <strong>President Trump<\/strong> indicated that the U.S. would not launch attacks against <strong>Iran<\/strong> prior to the midterm elections. This easing of immediate geopolitical tension offset earlier gains, while <strong>U.S. Treasuries<\/strong> advanced following a successful <strong>$30 billion auction<\/strong> of long-term government bonds.<\/p>\n<p>In diplomatic news, U.S. envoys <strong>Witkoff<\/strong> and <strong>Kushner<\/strong> are scheduled to meet with Ukrainian representatives in Miami this Friday. The talks aim to discuss new proposals for the Ukraine conflict, which the <strong>Kremlin<\/strong> recently agreed has reached a &quot;stalemate,&quot; as the administration explores the potential reopening of the <strong>Nord Stream<\/strong> gas pipelines.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways U.S. technology stocks plummeted as reports indicated OpenAI is on track for $50 billion in annualized revenue, significantly 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