Chip stocks bounce back as OpenAI files for Wall Street float – business live
South Korean chip stocks rebound sharply after yesterday’s sell-off as OpenAI confidentially files for a US IPO. Oil also slips on hopes of a breakthrough in Iran-Israel talks.
Intelligence analysis by GPT-5.4 Mini
The KOSPI surged after a brutal sell-off, led by Samsung Electronics and SK Hynix, as investors rushed back into chip shares and the AI trade. At the same time, OpenAI said it had confidentially filed for a US listing that could become one of the biggest IPOs ever.
South Korean chip shares had a big comeback after a scary drop, like a seesaw bouncing back after a hard push. At the same time, OpenAI took its first step toward selling shares on the stock market, which could turn it into one of the biggest company launches ever.
Analysis
AI-linked stocks bounce back
South Korea’s market staged a sharp recovery after Monday’s rout. The KOSPI rose about 8.4% in Tuesday trading, helped by heavy buying in Samsung Electronics and SK Hynix, which were up roughly 9% and 15% respectively. The move was strong enough to trigger temporary suspensions of program buy orders, known locally as “sidecars.”
The rebound came after a steep fall the previous day, underlining how quickly sentiment has turned in the AI trade. Deutsche Bank’s Jim Reid said the market was recovering after a big technology sell-off, while analysts warned that the scale of the swings points to unusually high volatility and a heavy dose of speculation.
OpenAI moves toward Wall Street
OpenAI said it had confidentially submitted an S-1 filing for an initial public offering in the US. The company said timing had not been decided, and noted that staying private still offers advantages for some of the work it wants to do. The filing sets the stage for a regulator review before the paperwork becomes public.
The report said the listing could value OpenAI at more than $850bn, making it one of the most highly valued market debuts in history if it goes ahead on that basis.
Oil eases on peace-talk hopes
Energy markets also moved early in the session. Brent crude fell around 1% after Donald Trump said Iran-Israel peace talks were in their “final throes.” The price was still well above pre-conflict levels, showing that traders are not yet pricing in a full return to calm.
Key points
- South Korea’s KOSPI jumped about 8.4% after yesterday’s steep fall.
- Samsung Electronics and SK Hynix led the rebound in chip stocks.
- OpenAI confidentially filed for a US initial public offering.
- The company said it has not decided when to go public.
- Brent crude fell after Trump said Iran-Israel peace talks were in their final throes.
If confidence in AI spending keeps returning, chip makers such as Samsung and SK Hynix could keep attracting buyers and stabilize after the sell-off. A successful OpenAI listing could also reinforce enthusiasm for the wider AI sector and support tech-heavy markets.
The article stresses that the moves are unusually wild, which raises the risk that the rebound is mostly speculative and could reverse quickly. OpenAI’s filing is confidential and the company has not chosen a timing, so the IPO could still be delayed or disappointed by market conditions.
