SMH is trading at $493.76 (down 2.47%) as technology stocks decline following reports that OpenAI missed internal revenue and user targets, raising doubts about the sustainability of AI spending.
- The report pressured semiconductor leaders like Nvidia and AMD, while partner Oracle saw shares drop between 5.2% and 7%.
- The tech-led selloff has pushed the Nasdaq Composite down as much as 0.91%, even as the Dow gains on energy sector strength stemming from U.S.-Iran tensions.