S&P 500 futures declined Friday as technology shares took a hit following a report that OpenAI is considering pushing its initial public offering to 2027. The Nasdaq Composite, heavy in tech names, and the broader S&P 500 are both on track to end the trading week in negative territory, according to CNBC.
OpenAI is said to be weighing an IPO delay amid volatility in tech stocks, with Kalshi prediction market traders assigning only a one-in-three chance of an IPO in 2026 but a high likelihood it arrives by June 2027. The reported postponement rattled AI-related semiconductor stocks globally: Korean chipmaker shares led a 6% slump in the country's equities, while memory chip stocks fell alongside peers in Asia and the U.S.
Shares of Morgan Stanley and Goldman Sachs dropped on Friday as the possible delay raised concerns about a prolonged slowdown in capital markets activity. The tech-heavy selloff extended across global markets, with world shares skidding as traders locked in profits from recent AI-driven rallies.
Some analysts caution that OpenAI's timeline could shift again if market conditions stabilize, and the company has not issued an official statement. The counter argument: a short-term delay may buy OpenAI more time to refine its valuation in a less volatile environment, potentially benefiting long-term investors.