I. Detailed US Market Review: OpenAI Revenue Data Triggers AI Faith Crisis, Nasdaq Plunges 1.25%
On October 8 (Eastern Time), the three major US indices showed mixed performance, presenting an extreme divergence where the Dow Jones rose while the Nasdaq fell. At the close, the Dow Jones Industrial Average settled at 51,231.64, up 51.77 points or 0.10%; the S&P 500 closed at 7,765.36, down 36.41 points or 0.47%; and the Nasdaq Composite Index closed at 27,193.34, plunging 345.35 points or 1.25%, marking its second consecutive day of decline.
The core conflict in market sentiment stemmed from the "unexpected shrinkage" in OpenAI's revenue figures. According to reports from the Financial Times and other media, OpenAI's annualized revenue as of the end of September approached $50 billion, approximately $20 billion lower than the $70 billion expectation widely cited by the market at the end of the previous month. This data directly triggered a re-evaluation by the market of the payback period for massive AI capital expenditures. In an environment of significantly higher borrowing costs, investors began to question whether the substantial investments in the AI supply chain could generate commensurate returns within a foreseeable timeframe.
Sector performance showed a stark contrast between winners and losers. Among the eleven major S&P 500 sectors, six rose and five fell. The Energy sector led gains with a 2.92% increase, followed by Consumer Staples up 2.12%. The Technology sector led declines with a 1.78% drop, while Consumer Discretionary fell 0.47%. International oil prices surged significantly on the day, with Brent...
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