Global markets retreat as chip demand lifts costs and OpenAI IPO delayed to 2027

Global markets entered a risk-off phase on Friday as fresh data showed chip demand driving up costs in the AI and semiconductor sectors, while OpenAI’s decision to postpone its long-anticipated IPO until 2027 deepened investor unease. Futures on Wall Street fell sharply, with chip stocks resuming their slide after a brief reprieve the previous day, as sentiment soured across global bourses. The Dow Jones Industrial Average closed nearly flat, but the Nasdaq Composite extended its losing streak to five sessions amid growing concerns over both hardware bottlenecks and the delayed public listing of one of the sector’s most closely watched companies .

The retreat in semiconductor shares accelerated after reports that OpenAI has pushed back its IPO plans, a move that market watchers say reflects broader caution about valuations in the AI ecosystem. “The delay sends a signal that the window for mega-listings may be closing,” said an analyst quoted by *Protothema* on Friday. The Greek financial daily also noted that capital had already begun shifting away from semiconductor equities toward broader tech sectors, limiting losses but doing little to restore confidence .

Across the Atlantic, Asian markets recorded sharp sell-offs as risk aversion spread, with chipmakers bearing the brunt of the declines. Analysts at *Yeni Şafak* pointed to surging demand for advanced chips as a key driver of higher production costs, which in turn is expected to weigh on end-user demand and corporate margins. Core US inflation met expectations in May, tempering bets on multiple Federal Reserve rate hikes this year to just one by December, yet the reprieve did little to calm jittery investors .

The latest rout follows a five-day losing streak on Wall Street, during which Micron Technology’s shares tumbled 6% and the S&P 500 suffered its longest losing streak in ten months. The Nasdaq Composite, heavily weighted toward tech and AI-related stocks, has been particularly sensitive to shifts in sentiment around semiconductor supply and corporate earnings outlooks. With OpenAI’s IPO now deferred to 2027, the sector faces a prolonged period of valuation uncertainty, leaving investors to reassess the pace of AI adoption against rising hardware costs.