U.S. stocks fall on AI worries
U.S. stocks retreated at the start of trading due to reports indicating that OpenAI is studying delaying its initial public offering, amid concerns over rising infrastructure costs for artificial intelligence and volatility in tech stocks. The S&P 500 index fell by 0.7%, and the Nasdaq by 1.1%. Chip stocks came under pressure, with shares in Asia and Europe declining amidst financial concerns and the drop in OpenAI's shares, which are backed by SoftBank.
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