Semiconductor Stocks Retreat as OpenAI Revenue Report Rattles AI Trade
Vancouver – October 10, 2026 -- The PHLX Semiconductor Index finished the week ended October 9 lower after the Financial Times reported that OpenAI told investors its annualized revenue was nearing $50 billion at the end of September, below the roughly $70 billion cited in earlier media reports.
The iShares Semiconductor ETF had advanced for five consecutive sessions at the start of October, and the sector's largest company hit a record high. Semiconductor valuations are closely tied to expectations for AI infrastructure spending, so the Thursday report weighed on the group while the broader market proved more resilient.