Stocks moved lower on Friday as OpenAI is reportedly considering delaying its IPO and as a sell-off in tech gathered pace amid mounting concerns over the rising cost of artificial intelligence infrastructure.

The S&P 500 was down 0.6%, while the Nasdaq Composite lost 1.06%. The Dow Jones Industrial Average fell 193 points, or 0.37%.

Chip stocks were weaker after a New York Times report that OpenAI is considering delaying its IPO to next year because of SpaceX’s poor performance following its debut and overall volatility in AI-related shares.

The report raised concerns about “sustainability of their infrastructure spending given the delay in funding from the capital markets,” wrote JPMorgan traders in a note.

The OpenAI IPO delay “could slow the pace of infrastructure spending,” said Adam Crisafulli of Vital Knowledge.

Shares of Micron Technology declined 5%, while ON Semiconductor Plunges 18%. Additionally, software stock c dropped more than 1%.

Microsoft rose more than 1% after Michael Burry reportedly placed a long-term call bet on the stock, viewing $350 as a buying opportunity.