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| ▲ Traders work inside the dealing room of Hana Bank in central Seoul on April 27, 2026. (Yonhap) |
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Seoul stocks open lower on renewed AI woes, rising oil prices
SEOUL, April 29 (Yonhap) -- Seoul stocks opened lower Wednesday as a report on OpenAI's poorer-than-expected performance renewed concerns over the artificial intelligence (AI) sector and rising oil prices.
The benchmark Korea Composite Stock Price Index (KOSPI) opened down 22.02 points, or 0.33 percent lower at 6,619.00.
Overnight, major stock indexes on Wall Street lost ground as concerns over the AI sector reemerged following a report warning that ChatGPT maker OpenAI was falling short of revenue and user targets.
The Wall Street Journal said in a report published Tuesday (U.S. time) that some executives at OpenAI are worried that the company "might not be able to pay for future computing contracts if revenue doesn't grow fast enough," citing insiders familiar with the matter.
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