US stocks fall as report of OpenAI IPO delay causes jitters
Wall Street stocks fell on Friday, capping a roller-coaster week for tech stocks as traders fretted that valuations may be entering bubble territory.
Analysts were further spooked by a report in the New York Times that OpenAI, the maker of ChatGPT, was leaning toward delaying its highly anticipated IPO until next year.
This was in part caused by Elon Musk’s rocket company SpaceX seeing its valuation drop from its IPO-day highs this week, pointing to a rockier landing zone for blockbuster public offerings on Wall Street.
