Bitcoin falls to around $80,800

By Vidya Ramakrishnan And Scott Lehtonen Artificial intelligence stocks got routed Thursday afternoon as fears of a lower annualized revenue for OpenAI gave cold feet to investors. Oil surged amid fresh remarks by President Donald Trump on the Middle East war, while inflation worries reignited after a Federal Reserve official made hawkish comments. And in stocks, Starbucks plunged amid deal news. 1% as Wall Street reacted to Trump's latest Iran comments.

4%. 3%. 15 a barrel, after Trump said he no longer wants to make a deal with Iran to end the war. Recent news reports also said the Pentagon is preparing for more potential military strikes.

S. would not launch attacks before the midterm elections. The international benchmark Brent crude passed the $103 level. 24%.

On Thursday, Federal Reserve Gov. Christopher Waller said that the central bank may need multiple rate hikes to control inflation. In prepared remarks at the Istanbul Economic Forum, Waller said he anticipated "additional hikes to support a timelier return of inflation to our 2% goal" though they need not happen in consecutive meetings. Finally, bitcoin moved down to around $80,800.

OPENAI DISAPPOINTS, AND TECHS FOLLOW According to financial documents shared with investors, OpenAI's annualized revenue is set to hit $50 billion, around $20 billion lower than earlier reports, the Financial Times said. As a result, a number of AI-related holdings were on the losing end of things Thursday. They included Constellation Energy and CoreWeave both of which fell around 6%. Astera Labs and Arm Holdings each plummeted roughly 8% Meanwhile, Starbucks fell more than 4%, further deepening a downtrend below its 50-day moving average on Thursday.

Shares fell after the Financial Times said that the coffee joint may be mulling a takeover of Chipotle Mexican Grill. Shares of the Tex-Mex restaurant chain surged 6% higher. Gainers included Take-Two Interactive Software and Diamondback Energy each of which rose more than 3%. m.

98. Shares jumped more than 3% Thursday. Oil transporters also headed higher. Okeanis Eco Tankers jumped 6% while Teekay Tankers and CMB Tech also tacked on more than 3% each.

All three were among the biggest gainers in the IBD 50. Outside energy names in the growth 50 list, Snowflake rebounded from its 21-day moving average with a gain of nearly 3%. 49. m.

70 entry. Palantir stock jumped more than 3% after Goldman Sachs analysts upgraded it to a buy from neutral with a price target of 230. Analysts see a positive for Palantir's total addressable market amid growth in sovereign artificial intelligence as governments seek to control their data. 46 in a cup base.

The company makes software for video games and other interactive experiences. 42 in a flat base. The stock is on an unbroken nine-day winning streak Thursday. The company provides cloud infrastructure for data centers Another member of the IBD Live Ready List, Apple held a slight gain within a cup base.

57. m. ET BROADCOM SLIDES ON FINANCING WOES Broadcom was a loser in morning trades Thursday. Shares fell after the Wall Street Journal reported that the chipmaker may need more than $50 billion in financing to make a custom chip for OpenAI.

Apollo and Blackstone reportedly are among the lenders Broadcom is considering. Shares of Broadcom fell below their 50-day moving average, breaking a four-day winning streak. Oracle and SpaceX are also among big technology companies seeking financing to buy more chips. Oracle fell nearly 2% and slid below its 50-day moving average.

SpaceX dropped more than 1% Thursday. m. 5%, respectively, making them some of the top performers just after the market open. Four Reasons To Put This Nvidia, AMD Partner On Your Watchlist Right Now Meanwhile, Arm, Lumentum and CoreWeave all posted losses between 1% and 4% in morning trading.

m. 6% in early morning action. On the downside, Caterpillar, Merck and Nvidia all posted losses of roughly 1%. 76.

m. ET TODAY'S MOVERS: PEPSICO, TSMC PepsiCo shares rallied nearly 2% premarket Thursday after the beverage giant reported better-than-expected earnings and sales numbers for the third quarter. But the company lowered its full-year profit forecast, as its North American business continues to underperform. The stock closed Wednesday nearly 28% off its 52-week high.

Early Thursday, Nvidia chipmaker Taiwan Semiconductor Manufacturing, better known as TSMC, declined nearly 2% despite handily beating September and third-quarter sales estimates. Shares threatened to fall further below a cup-base entry at 479 and extend a losing streak to three sessions. m. ET are the Labor Department's weekly initial jobless claims.

Claims are expected to rise to 200,000 vs. 197,000 in the previous week. Meanwhile, the University of Michigan's consumer sentiment reading is set for Friday. Top Funds Sink Their Teeth Into Apple Stock.

Sweet Breakout Ahead? Be sure to follow Scott Lehtonen on X at @IBD_SLehtonen for more on growth stocks, the Dow Jones Industrial Average and the stock market today. Please follow VRamakrishnan on X/Twitter for more news on the stock market today. com Investor's Business Daily - Your edge in the stock market This content was created by Investor's Business Daily, which is operated by Dow Jones & Co.

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