☕️ [Task Coins Giveaway] Daily Market Talk — OpenAI's $20B Gap Hits AI Stocks

The FT reported OpenAI's annualized revenue is about $20B lower than thought, and the AI chain sold off: Oracle -5.5%, CoreWeave -7.8%, Nvidia -2.9%. At home, the STI closed -3.5% Thursday as all three banks fell 4% to 5%. Let's dig in 👇

💬 AI names and SG banks both just got hit: which dip are you buying first, Nvidia or DBS?

📊 Quick Recap — What Moved & Why

🇺🇸 US — OpenAI's Revenue Gap Hits the AI Trade

🔑 Key Event: OpenAI's annualized revenue was about $50B at end-September, the FT reported, not the $68B cited last month; the higher figure had included partners' gross revenue. AI infrastructure took the hit: $Oracle(ORCL.US) -5.5%, $Coreweave(CRWV.US) -7.8%, $NVIDIA(NVDA.US) -2.9%, $Broadcom(AVGO.US) -4.4%.

@CP : Memory can't go up forever after a 224% run; SpaceX borrowing $40B to buy Nvidia chips is bullish Nvidia but bearish for leverage.

👀 Other to Watch

• $NASDAQ Composite Index(.IXIC.US) → -1.25%, $S&P 500(.SPX.US) -0.47%, $Dow Jones Industrial Average(.DJI.US) +0.10%; the 30-year auction cleared at 5.618%, highest since 2000.
• $Oracle(ORCL.US) is trucking natural gas to its AI data centers at four times pipeline cost, per Bloomberg.
• $Micron Tech(MU.US) -4.8%, $Sandisk(SNDK.US) -4.9%, $SK Hynix(SKHY.US) -4.4% as Samsung's record quarter missed on revenue.

🇸🇬 Singapore — Banks Drag the STI to a 3-Month Low

🔑 Key Event: $FTSE Straits Times Index(STI.SG) closed -3.49% Thursday at 5,413 as $DBS(D05.SG) fell -4.7%, $UOB(U11.SG) -5.2% and $OCBC Bank(O39.SG) -4.3%. JPMorgan told clients to trim all three on surging long yields and funding costs. This morning the STI is down about -0.6% near 5,382, with DBS about -1.4%, UOB -1.8% and OCBC -0.5%.

@LazyCat : Citi's Sell call is a prediction of where the stock could trade down to if their concerns of slowing growth and shrinking margins play out; do note that this is a prediction and not a fact.

👀 Other to Watch

• S-REITs → the REIT index fell -1.0% Thursday, milder than the STI; $Lion-phillip S-Reit(CLR.SG) sits near its 52-week low.

@Pingu : I saw the S-REIT drop as an opportunity to increase my exposure at a lower price, but I did not want to assume that a lower price automatically meant better value.

🇭🇰 HK/China — Bouncing Off a 3-Month Low

🔑 Key Event: $Hang Seng Index(00HSI.HK) is up about +1% this morning near 24,020 after Thursday's -1.43% drop to a three-month low, with $XIAOMI-W(01810.HK) about +6.8%, $TENCENT(00700.HK) +1.8% and $HSBC HOLDINGS(00005.HK) +1.5%.

@Fattycat : The Hang Seng Tech Index has dropped around 27%. It looks far more attractive now; big names like Alibaba, Tencent and BYD are trading at discounts.

🌍 Other to Watch

• 🛢️ Brent is easing toward $103 this morning after Trump ruled out an Iran strike before the midterms; it settled +4.1% Thursday as a hurricane shut 63% of US Gulf output.
• 📉 Fed's Waller sees no need for back-to-back hikes; Musalem disagrees.
• 🪙 Gold is bouncing toward $4,170 as oil cools.

@EdmundK : Nvidia and Nasdaq records on the same day as 10Y and 30Y yields at 24-year highs is a divergence that never ends well.

📅 Upcoming Key Events

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🚫 No duplicates · ⏰ Deadline: Oct 9, 2026, 11:59 PM SGT

Not investment advice, just market talk 🙏