In the first half of 2026, several key data points from OpenAI triggered buyer hesitation:


Slowing growth: Internal reports indicate that OpenAI's user growth and enterprise sales in the first few months of 2026 did not meet expectations.
Cost black hole: Although monthly revenue has surpassed $2 billion, its computing power costs (GPU consumption) and R&D expenses remain huge, with a net loss estimated to still reach $4.5 billion in 2025.
IPO suspense: The market generally expects it to go public within 2026, but in the current environment with a 5% U.S. Treasury yield, investors worry that its IPO will "break below" immediately after listing...
#OpenAI #IPO #AI泡沫 #Tech Stocks #估值 #U.S. Treasury Yield
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