Finance

Technology and semiconductor shares rebounded from a sharp selloff after fresh details emerged showing OpenAI is projected to generate $70 billion or more in annualized revenue by the end of the year. This expansion update alleviated fears of an artificial intelligence bubble and valuation shortfalls that had heavily weighted on tech-heavy indices. Despite the recovery, some structural fragility remains as major suppliers like Taiwan Semiconductor Manufacturing still faced initial selling pressures.

Crude prices fluctuated sharply following persistent geopolitical conflicts in the Middle East and attacks near the Strait of Hormuz, maintaining international Brent benchmarks above $104 a barrel. The elevated cost of energy continues to amplify inflation anxieties, contributing to a parallel creep in long-term borrowing costs. Investors continue to monitor the 10-year U.S. Treasury yield, which settled near 5.24% amidst expectations of continued hawkish monetary policy.

The broader cryptocurrency market shifted toward a risk-off environment as macroeconomic pressures and climbing oil costs deflated initial monthly momentum. While Bitcoin slipped from its multi-week highs to trade around the $82,000 to $83,000 range, it vastly outperformed competing digital assets. Major altcoins like Ethereum and Solana experienced much steeper declines, which inadvertently pushed Bitcoin's overall market share dominance close to 60%.