# S&P 500 drops from a record.

*business · news · 2026-04-29 · The Hindu Business Line*

## Key points

- OpenAI failed to meet internal user acquisition and sales goals, raising sustainability concerns.
- Rival Anthropic gained market share in coding and enterprise sectors, contributing to OpenAI's missed targets.
- Oracle and CoreWeave stock prices dropped due to worries about OpenAI's ability to fund AI infrastructure.
- Despite AI industry struggles, tech sector earnings are projected to have grown 41% in Q1 2026.

**Companies:** Alphabet Inc., Microsoft Corp., Amazon.com Inc., Meta Platforms Inc., Apple Inc., Oracle Corp., CoreWeave Inc.
**Countries:** United States, Iran, Pakistan

[Read the full story on The Hindu Business Line](https://www.thehindubusinessline.com/markets/sp-500-nasdaq-100-tumble-as-report-on-openai-fuels-tech-jitters/article70918992.ece)

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