US stock-index futures rose and Asian shares climbed after more details emerged about OpenAI’s estimated revenue, suggesting the weakness in Wall Street technology shares may be contained.
Relief also came as Brent declined. Contracts for the S&P 500 Index gained 0.3% and those for the Nasdaq 100 Index climbed 0.5%.
OpenAI expects to reach or exceed $70 billion in annualised revenue by year-end, driven largely by growth in its enterprise business, according to people familiar with the matter.
That lifted sentiment after US shares retreated Thursday and a gauge of chipmakers slid 3.4%, following a Financial Times report that OpenAI’s annualized revenue was $20 billion below previously signaled levels.
Asian shares rose 0.3% and contracts indicated European stocks were set to gain at the open. Brent crude dropped 1.2% to $102.95 a barrel after President Donald Trump said the US won’t attack Iran ahead of November’s midterm elections.
Treasuries held gains from the US session, while a Bloomberg gauge of the dollar edged lower. Questions over returns from AI put spending under greater scrutiny, with elevated borrowing costs making vast investments in data centers and computing infrastructure harder to justify.
The start of earnings season next week will provide a key test, with investors seeking evidence that revenue and profits can keep pace with the capital required to develop and run AI models.
