Asian Markets Poised for Subdued Start as US Tech Selloff Deepens Over OpenAI Concerns

Gate News message, April 28 — Asian equities are set for a cautious open following a tech-led selloff in US markets, triggered by reports that OpenAI failed to meet its own targets for new user acquisition and sales. The S&P 500 declined from record levels on the news, raising concerns about whether massive AI infrastructure spending will generate adequate returns. Equity futures indicated Sydney will open lower, while Hong Kong is expected to post modest gains; Tokyo markets are closed for a holiday.

The selloff pressured AI-related companies including Oracle and CoreWeave, which posted sharp declines. S&P 500 contracts remained steady after the initial drop, as markets brace for a wave of megacap earnings reports.