3/30/2026
By Charles Payne, CEO & Principal Analyst

OpenAI Buckles Down

Over the weekend, rumors that OpenAI is ready to pull the plug on the need to buy $600 billion in memory from SK Hynix have kept pressure on DRAM pricing and raised anxiety about circular funding among the large AI players.

Right now, heavyweights with stakes in Anthropic have something to crow about, even as Anthropic’s Claude continues to wreak havoc.

OpenAI Umbrella

Last year saw a bifurcation between stocks deeply associated with OpenAI and those closely associated with Google. The former names have been hit harder.

And now OpenAI is shutting down several projects, including its AI project Sora with Disney (DIS).

Apparently, the cost for a one-minute video versus rivals was a bridge too far:

• Sora: $30.00
• Google Veo 3.1: $12.00
• Grok: $4.20

Mag Seven, Lag Seven, Bag Seven

The frustration is clear: investors are concerned that Microsoft (MSFT) and others have poured hundreds of billions of dollars into their own demise. Hence, the worst quarter for MSFT since 2008.

Amazon

I continue to view the Amazon River as one of the greatest wonders of the world in existence. Still, Amazon (AMZN), the company, is spending money at a level that has created some of humankind's greatest marvels ever. We will either be in awe of the end creation or the magnitude of waste.

Mags Oversold

The selloff has become the proverbial boulder that began as a snowball and now has taken on a life of its own, superseding fundamental and technical analysis.

All the incumbents have been hammered!

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Charles Payne
Wall Street Strategies