Chip Stocks and US Dollar Slide on OpenAI Revenue Concerns

Key Facts

1Intel shares fell 5% and Micron fell 4% following reports that OpenAI's revenue run rate missed market expectations.

2The US dollar fell alongside risk assets, highlighting its reliance on inbound AI-related investment flows.

Intel shares fell 5% and Micron fell 4% following reports that OpenAI's revenue run rate reached $50 billion, missing market expectations of $70 billion, according to Reuters. The sell-off in semiconductor stocks coincided with an atypical decline in the US dollar, suggesting the currency's recent strength has been heavily supported by inbound AI-related investment flows.

INTC closed at $107.08 on October 8, 2026, while MU was trading at $1028.335 on October 9, 2026. Market observations indicate that the dollar's reliance on the AI theme has shifted its correlation with risk assets, as the currency failed to act as a traditional safe haven during this specific technology-led downturn.