Oracle

Markets sold off sharply after reports that OpenAI's annualised revenues are about $20 billion below what was previously signalled. The Nasdaq dropped over 300 points, with Nvidia, Oracle and CoreWeave among AI-linked stocks sinking hard. Oracle shares crashed particularly hard given its exposure to OpenAI data-centre contracts. Separately, the FBI arrested a Saudi engineer at OpenAI over an alleged covert recording device, according to the Justice Department.