We'll start with the weakness, though, in the AI trade.

This new report focusing on OpenAI's revenue targets.

Kate Rooney has the story for us, Kate.

Have we learned anything more about what those targets are?

Sarah, we didn't have the targets.

It wasn't in the journal's story, whether it was the revenue targets or user growth.

But Open AI did reportedly miss whatever those targets were for user growth

and revenue. This again is according to Wall Street Journal citing unnamed sources here. Any sort of revenue

slowdown is raising some new concerns about Open AI's ability to fulfill spending commitments.

The headlines hitting shares of Oracle this morning. They've got a five-year partnership with

Open AI. I've got NVIDIA, Broadcom, AMD, all lower. It does highlight just how important Open AI is.

And this company is to its, and the mega spending that it has been doing to the entire AI ecosystem.

You're seeing that reflected in the stocks. Open AI has hit back hard guys on this report,

the statement to CNBC they gave us

this morning telling us that this is, quote, ridiculous. We are totally aligned, they say,

on buying as much compute as we can and working hard on it together every day. That is a joint

statement from Sarah Fryer and Sam Altman, CEO and CFO, an OpenAI spokesperson also pointing

us to Open AI's recent

$122 billion fundraise. That's the total that is the most that any company has ever raised,

at least in private markets, they're spending that on compute. And CFO's Sarah Fryer's stance

has been that compute is a strategic moat versus rivals like Anthropic that have been spending

less. Here's how she framed it just last week on this show, guys.

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