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stock futures climbed late Thursday after an underwhelming revenue report from OpenAI triggered a selloff in technology and chip stocks during the prior trading session.
The rebound in futures followed a day when benchmark indexes closed mixed, with the Nasdaq Composite shedding 345 points to close 1.25% lower, while the S&P 500 fell 0.47% and the Dow Jones Industrial Average rose 0.10%.
The market reaction centered on OpenAI's reported annualized revenue of approximately $50 billion as of the end of September, a figure that fell short of the $70 billion widely expected by markets.
The discrepancy in expectations stemmed from differing accounting methods; the $70 billion figure, first reported by Axios, included sales through cloud partners like Amazon Web Services and Google Cloud to allow for a direct comparison with Anthropic, whereas OpenAI does not count such partner revenue in its own figures.
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