OpenAI’s $1 Trillion Valuation Push and IPO Delay Spark Nvidia Sell-off

NVDA•2026-06-26

Jim Rickards warns 95% of corporate AI initiatives lack measurable returns and sees Meta’s July 29 earnings as a potential catalyst for a dot-com-style correction. OpenAI’s delay of its IPO to 2027 for a $1 trillion valuation sparked a sell-off in AI chip stocks including Nvidia despite sustained computing demand.

1. Sector Correction Warning

Jim Rickards, known for forecasting the 2008 crisis, highlighted that 95% of corporate AI projects have failed to deliver measurable returns. He pinpointed Meta’s July 29 earnings as a potential trigger that could expose profitability gaps and provoke a broader sell-off in AI-linked equities.

2. OpenAI IPO Delay Impact

OpenAI’s consideration of pushing its IPO into 2027 to aim for a $1 trillion valuation prompted a sharp pullback in AI chip stocks, with Nvidia leading declines. Despite the sell-off, industry commitments approaching $600 billion and robust chip demand suggest ongoing momentum for AI infrastructure investments.