The S&P 500 and the Nasdaq fell on Tuesday, led by declines in technology stocks. Reports said ChatGPT maker OpenAI’s annualized revenue is about $50 billion, below some market estimates of $70 billion. The news helped trigger a selloff in chip shares, pushing the Nasdaq 100 down 1.4% and the Philadelphia Semiconductor Index down 3.4%.

Royal Bank of Canada reported fiscal Q3 2026 net income of C$6 billion, up about 11% year over year, with earnings per share of C$4.23 and revenue above C$18.5 billion. The bank said its Canadian consumer and commercial unit ran at a 35% efficiency ratio, compared with a peer average of 45%, and that roughly 40% of customers hold three or more products. RBC also posted a 20% year-over-year increase in flows into its wealth business, while return on equity rose to above 18%.

SpaceX said it will use newly acquired spectrum and its second-generation constellation to offer high-speed mobile broadband across the US through Starlink Mobile, claiming capacity of more than 100 times its current satellite fleet. US regulators approved this week the launch of up to 15,000 new satellites designed to connect directly to ordinary smartphones. After the announcement, shares of major US telecom carriers fell sharply in after-hours trading.

OpenAI has lowered its annual revenue forecast to $50 billion from $70 billion, a gap of $20 billion. The company is currently valued at $852 billion and is preparing an initial public offering. The sharp downgrade in expectations comes just ahead of the IPO, raising questions about its growth trajectory.

Pyth DAO has approved OP-PIP-136, committing 100% of revenue generated by its commercial products to buying back PYTH on the open market. The move directly links the DAO’s token holdings to the network’s data-revenue intake, aiming to support PYTH through sustained purchases. However, data show monthly buyback amounts have shrunk 75% over the past five months, indicating a sharp decline in the scale of funds flowing into the program.

Technology stocks fell on Thursday as investors weighed concerns about the profitability of artificial intelligence. The Financial Times reported that OpenAI told investors its revenue was approaching $50 billion on an annualized basis toward the end of last month. Nvidia, seen as an AI bellwether, slipped nearly 3%. Oracle, which has borrowed heavily to supply computing capacity to OpenAI and other firms, dropped more than 5%, adding to the sector’s decline.

OpenAI recently told investors its annualized revenue was approaching $50 billion at the end of September, below the $70 billion figure reported by some media outlets late last month, the Financial Times reported, citing investor documents. The gap stems from efforts by OpenAI investors to make a direct comparison with Anthropic’s annualized revenue, according to a person familiar with the matter. The report said the two companies calculate the metric differently, and noted that annualized revenue run rate can be misleading.

Major supermarket coffee brands have quietly adjusted their marketing as arabica bean prices climbed to almost 50-year highs. Some labels have shifted from “100% arabica” to “coffee” or to blends that include robusta. Retail prices have also risen sharply, with one organic freeze-dried coffee increasing from $4 per 100 grams to $8.