AI investment surge hits US tech stocks and concerns Fed on inflation

US equity markets fell on June 26 as worries over a possible OpenAI IPO delay hurt AI‑related semiconductor shares. The Dow Jones slipped 44.5 points, the Nasdaq fell 60.99 points and the S&P 500 dropped 3.47 points. Micron, AMD and Intel each lost between 2% and over 3% after reports that OpenAI was considering postponing its listing to next year, sparking broader sentiment loss in AI‑linked stocks. Investors shifted into defensive sectors such as healthcare and consumer staples.

Separately, Federal Reserve officials are monitoring the AI investment boom as a fresh source of inflation pressure. Large‑scale data‑center builds and demand for high‑performance AI chips are straining supplies of memory, power and construction labor, driving up component prices. Analysts estimate AI‑related capital spending could reach $7.45 trillion this year, representing roughly 3% of US GDP by next year. Fed presidents Neel Kashkari and John Williams have highlighted the AI‑driven price pressures as a factor that could delay anticipated rate cuts, even though they expect productivity gains from AI to materialise only over the longer term.