OpenAI IPO delay sparks global tech stock decline

Reports that OpenAI is weighing a postponement of its initial public offering—potentially to 2027 or beyond—have unsettled investors. The uncertainty led SoftBank Group, a major backer of OpenAI, to see its shares tumble between 5% and more than 12% in Tokyo and Tokyo‑based trading, while U.S. equity indexes slipped, with the Nasdaq down 0.24%, the S&P 500 off 0.05% and the Dow Jones losing 0.09% on the day. Semiconductor and AI‑related chip makers bore the brunt: Micron fell over 6%, Intel more than 3% and AMD about 2%, contributing to a 5.3% drop in the PHLX chip index. The slide prompted investors to rotate into defensive sectors; healthcare stocks such as Eli Lilly, Johnson & Johnson and AbbVie posted gains of 4‑7%. In parallel, software‑as‑a‑service companies rallied, with ServiceNow climbing nearly 10% and Workday and Datadog up 9% and 8.5% respectively. The market weakness spread to Asian exchanges: Japan’s Nikkei fell as SoftBank slid nearly 6%, while Australian and Indonesian futures showed modest gains amid cautious sentiment. Analysts warned that a delayed OpenAI listing could slow AI‑infrastructure investment and dampen valuations across the sector.