US stock exchanges: Tech stocks recover after new AI fear – Wall Street closes in positive territory

There is no sign of a renewed US attack on Iran, which is calming the oil market. A media report appeases investors who fear an AI bubble.

A street sign on Wall Street. Photo: dpa

Dusseldorf. Slightly falling oil prices and easing concerns about the sustainability of the investment boom in the field of artificial intelligence (AI) gave the US stock markets a tailwind on Friday. Declining geopolitical tensions in the Middle East brightened investor sentiment, with the most important indices entering the weekend with gains.

The Dow Jones of standard stocks gains a good 0.8 percent and rises to 51,654 points.

The broader S&P 500 closed 0.6 percent higher at 7,811 points.

The Nasdaq technology exchange ended trading 0.6 percent higher at 27,366 points.

The Nasdaq 100, a reflection of the 100 non-financial companies with the highest market capitalization, closed 0.5 percent higher at 30,883 points.

The day before, massive losses in AI stocks had dragged down the Nasdaq technology exchange significantly. This was triggered by a media report about the sales of the ChatGPT developer OpenAI, which increased fears that the high AI spending is becoming increasingly difficult to justify.

According to the Financial Times, OpenAI recently told investors that the AI ​​company's annualized sales at the end of September were nearly $50 billion, about $20 billion lower than previously reported.

This was followed on Friday by a report from the Bloomberg agency, according to which, according to insiders, OpenAI is aiming for annualized sales of at least $70 billion by the end of 2026. The increase is expected to come primarily from the increasing business with companies.

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