U.S. equity weakness deepened on Oct. 9, with the Nasdaq extending its decline to 1% and the Philadelphia Semiconductor Index falling more than 2%, according to market data from BIT (bit.com). Chip stocks were among the notable laggards, with Intel and Marvell down more than 4%, while AMD and Micron each fell more than 3%. Nvidia was also lower, slipping nearly 2%.
The market move came after an earlier report on OpenAI’s revenue run rate drew attention. OpenAI’s annualized revenue stood at $50 billion as of the end of September, which was $20 billion below the widely reported figure of $70 billion cited previously. The update added to the day’s list of closely watched technology-related developments.
The figures cited in this market update were attributed to BIT (bit.com) data and were reported by BlockBeats.
BlockBeats reported on Oct. 9 that the Nasdaq’s decline widened to 1%, while the Philadelphia Semiconductor Index fell more than 2%, according to market data from BIT (bit.com).
Among individual names, Intel and Marvell were down more than 4%. AMD and Micron each fell more than 3%, and Nvidia was off nearly 2%.
Earlier, OpenAI’s annualized revenue was reported at $50 billion as of the end of September, $20 billion below the previously widely reported $70 billion.
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