Goldman Sachs, Morgan Stanley Stocks Fall Amid OpenAI IPO Delay Rumors
Shares of U.S. investment banks Goldman Sachs and Morgan Stanley declined on June 26 (local time) amid rumors of a delay in the initial public offering (IPO) of artificial intelligence (AI) company OpenAI. News that OpenAI is considering postponing its IPO, which had been eyed for this fall, to 2027 caused the banks' stock prices to fall.
On the New York Stock Exchange, as of 11:56 AM Eastern Time, Morgan Stanley was down 2.69% to $215.09, and Goldman Sachs had dropped 2.80% to $1035.22. The IPO delay rumors impacted the stock prices of the two banks, which are slated to be underwriters for OpenAI's listing.
The KBW Bank Index and the Nasdaq 100 Index also showed weakness.
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