OpenAI IPO delay sparks tech stock sell‑off, drags Taiwan market lower

OpenAI announced it may postpone its initial public offering until next year, prompting a broad sell‑off in artificial‑intelligence‑related equities. In the United States, the Dow fell 44.5 points, the S&P 500 slipped 0.05%, and the Nasdaq dropped 0.24%. The Philadelphia Semiconductor Index slumped 5.29%, and TSMC’s American‑depositary receipt fell about 0.6% to around $432. The news came amid higher U.S. inflation data that keeps interest‑rate hikes on the table.

The fallout spread to Asian markets, with Taiwan’s weighted index plunging 1,683 points – the third‑largest single‑day decline on record. TSMC shares slid more than 2%, and other chipmakers such as MediaTek and United Microelectronics hit trading halts. Broad sectors including AI, IC design, finance and traditional manufacturing fell sharply, pushing the market’s total volume to a record‑high level.

Analysts note the episode underscores investors' sensitivity to valuation timing for fast‑growing AI firms and the interlinked nature of global semiconductor exposure.