Global AI Stock Crash Follows OpenAI IPO Delay

Global stock markets experienced a severe sell-off on June 26, 2026, driven by investor concerns over artificial intelligence valuations and the potential delay of an OpenAI initial public offering. Reports that OpenAI may postpone its public debut until 2027 to secure a $1 trillion valuation triggered a cascade of losses. The slump began in Asia, where South Korea's Kospi dropped as much as 9% and Japan's Nikkei 225 fell over 4%, heavily impacting companies like SoftBank Group, Samsung Electronics, and SK Hynix.

In the United States, the Nasdaq and S&P 500 faced steep losses. Market volatility was exacerbated by Apple and Microsoft raising prices on hardware, such as iPads and Xboxes, to offset soaring memory and storage chip costs. This led to a sharp decline in semiconductor stocks, including Micron Technology, AMD, and Nvidia, as investors questioned whether AI profits could sustain rapid price increases. The instability of Space Exploration Technologies Corp. (SpaceX), which saw its shares plummet 22% from their peak after a recent Nasdaq debut, further influenced OpenAI's decision to delay its listing.

Amid the tech crash, other sectors showed mixed results. Oil prices declined as tensions in the Strait of Hormuz eased and Saudi Aramco resumed loadings. Meanwhile, Japanese chipmaker Kioxia announced plans to list American depositary shares in the U.S. between April and June of the next financial year, reflecting a broader trend of Asian tech firms seeking American investors.