Tech stocks were falling on Friday after a report said that ChatGPT developer OpenAI could delay its initial public offering until next year.
Software company Oracle dropped 1.6% and cloud-computing infrastructure provider CoreWeave fell 2.4% ahead of the U.S. opening bell. Shares of Tokyo-listed tech investor SoftBank closed 13% lower.
The selloff came after The New York Times reported that OpenAI was inclined to delay its public offering until 2027, citing three people involved in the matter.
OpenAI didn't immediately respond to a request for comment from Barron's.
Executives are concerned about a recent slump in SpaceX stock, as well as broader market weakness, according to the report. SpaceX went public in the largest IPO ever earlier this month, but shares of the rocket and AI company have dropped 24% over the past six trading sessions.
OpenAI said on June 9 that it had confidentially filed for an IPO, but added that it " may be a while" until it goes public.
There's a lot riding on the listing for Oracle, CoreWeave, and SoftBank.
Oracle has a $300 billion deal with OpenAI to build out data centers through 2030. CoreWeave has a multi-year partnership with the ChatGPT developer that has a total value of up to $22 billion.
SoftBank has invested about $65 billion in OpenAI, representing about 13% of OpenAI's total ownership as of February. SoftBank is also a partner with Oracle and OpenAI in the $500 billion Stargate AI infrastructure project.
Write to George Glover at george.glover@dowjones.com
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June 26, 2026 05:31 ET (09:31 GMT)
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