Korea falls 2.6% and Japan 0.6% due to OpenAI's earnings, lower than expected

WHAT HAPPENED

According to the Financial Times, OpenAI told investors that its annualized revenues are around $50 billion, compared to the expected $70 billion. The stock markets of South Korea and Japan fell 2.62% and 0.6%.

WHY IT MATTERS

It does not mean that OpenAI is selling less or losing money: the market miscalculated its sales by comparing them to another company. The disappointment hit those who manufacture chips and data centers. Korea, heavily dependent on semiconductors, fell more.

AND FOR YOUR PORTFOLIO

Mutual funds and retirement plans with technology stocks from the United States or Asia may show a lower value. The news serves as a reminder that expectations about artificial intelligence are already affecting chips, cloud, and data centers, even if it doesn't change the business overnight.