OpenAI Just Signaled It Might Delay Its IPO. AI Stocks Are Tumbling. Is the Bubble Bursting?

Yahoo Finance · 2026-06-26

Artificial intelligence (AI) and chip stocks were sliding again Friday, and this time the spark came from a company that isn't even public yet. Reports surfaced that OpenAI, the maker of ChatGPT, is leaning toward delaying its initial public offering (IPO) until 2027. The company's advisors reportedly laid out two paths: wait until 2027 and chase a valuation of about $1 trillion, or go public sooner at a lower price. CEO Sam Altman reportedly rejected any cut to that trillion-dollar target. The news rippled straight into chip stocks. Nvidia ( NVDA 0.70% ) , one of the world's most valuable companies and the clearest proxy for AI spending, slipped about 1.5% as of this writing, while Advanced Micro Devices , Broadcom , and a swath of other semiconductor names fell further. It capped a rough stretch for the group -- the Nasdaq Composite had its worst day in more than a year earlier this month as chip stocks sold off hard. So why would a private company's IPO timing rattle the businesses actually selling the picks and shovels of the AI boom? And does it mean the bubble some investors keep warning about is finally bursting? OpenAI may be private, but it sits at the center of the AI build-out. The company has signed an extraordinary string of supply deals that underpin much of the industry's expected demand. It agreed to deploy 10 gigawatts of Nvidia systems, with Nvidia planning to invest up to $100 billion in OpenAI along the way. It struck a separate deal for 6 gigawatts of chips from AMD. And it has reportedly committed to roughly $300 billion with Oracle for cloud computing capacity, while developing its own custom chips with Broadcom.

AI 시장 분석

When OpenAI signaled it may push its IPO to 2027, listed stocks focused on AI and Semiconductors dropped immediately. OpenAI is a central demand driver through NVDA 10GW, AMD 6GW, and a large cloud contract with Oracle, so the timing of the IPO strongly affects market sentiment. In the short term, weakening IPO expectations are likely to compress investor sentiment and liquidity and lead to a pullback in AI-related names. By contrast, the long-term commitments to physical demand should continue to support Semiconductors, Cloud, and Data center infrastructure (power/cooling/servers).

상승 영향

Semiconductors — OpenAI's large orders (NVDA 10GW, AMD 6GW, Broadcom custom chips) guarantee long-term demand, which should support production investment and improve pricing power, positively affecting earnings.
Cloud — OpenAI's agreement with Oracle (reported to be around $300B) is a direct positive for Oracle and other cloud service providers through long-term contracts and revenue expansion.
Data center infrastructure (power/coolin — A 10GW-scale deployment will sharply increase demand for power, cooling, servers, and network equipment, providing strong benefits to related equipment and facilities vendors.

하락 영향

Public AI and semiconductor equities (NV — If OpenAI IPO expectations retreat, short-term investor sentiment could weaken, triggering valuation adjustments and increased volatility for listed AI and semiconductor names like NVDA.
IPO market/Tech IPOs — A delay of a major AI IPO could weaken momentum across the IPO market and reduce investor demand, negatively affecting listing schedules and pricing for other tech companies.
Tech stocks/Nasdaq index — If the AI- and semiconductor-led correction deepens, it could spill over into broad indices, enlarging mark-to-market losses for leveraged funds and ETFs and triggering risk-off behavior.

AI가 생성한 분석으로 투자 자문이 아닙니다.

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