AI concerns weigh on global markets as OpenAI lowers valuation target

After several years of optimism about artificial intelligence, concern is growing on stock markets worldwide. Investors are questioning whether the enormous investments in AI infrastructure will generate enough returns, according to Techtidningen.

On Thursday, the Nasdaq fell about 2.6%, while the Philadelphia Semiconductor Index dropped 6.7%. The declines continued on Asian markets on Friday, the report says.

At the same time, OpenAI is reported to have lowered its valuation target from $1,400 billion to $1,250 billion, according to the Financial Times. Techtidningen does not provide further details about the reported change.

Joakim Bornold, a Swedish savings commentator, warned in Dagens industri that AI stocks had become overheated. He pointed in particular to risks among highly valued, unprofitable AI companies. Bornold also identified the banking sector as a possible beneficiary of future efficiency gains driven by AI.

The report links the market unease to questions about returns on AI infrastructure spending, while attributing the valuation figures to the Financial Times and Bornold’s comments to Dagens industri.