The OpenAI Selloff is Over -- WSJ

Dow Jones

May 02

By Jared Mitovich

Shares of Oracle, CoreWeave, SoftBank and other firms tied to OpenAI have recovered losses from Tuesday, when they slumped after The Wall Street Journal reported that the ChatGPT maker had missed its own targets for revenue and users.

Bumper tech earnings on Wednesday and Thursday have boosted investor bullishness on artificial intelligence. Oracle and CoreWeave were each up more than 6% in Friday afternoon trading in New York, while Japan-listed SoftBank closed the day up 4%.

Broadcom, which has a multibillion-dollar chip development deal with OpenAI, was up 1%, touching an all-time high.

CoreWeave and Advanced Micro Devices, another OpenAI partner, are due to report earnings next week. CoreWeave's stock benefited Friday thanks to an analyst upgrade from Citi, which raised its price target from $126 to $155.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

May 01, 2026 14:29 ET (18:29 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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