OpenAI's revenue scare, Delta earnings, what investors think of a Starbucks-Chipotle deal and more in Morning Squawk

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Happy Friday. Don't miss Federal Communications Commission Chairman Brendan Carr on "Squawk on the Street" at 11 a.m. ET. Watch live on CNBC or CNBC+.

Stock futures are higher this morning following a losing day for the S&P 500.

Here are five key things investors need to know to start the trading day:

1. Open questions

Open AI CEO Sam Altman does a television interview with CNBC's Kate Rooney before delivering the keynote address at the OpenAI developers conference at Fort Mason on September 29, 2026 in San Francisco, California.

Heather Diehl | Getty Images

OpenAI told investors that its annualized revenue at the end of September was roughly $18 billion shy of what was previously reported, CNBC confirmed yesterday. The news from one of the most dominant players in the artificial intelligence ecosystem led stocks across the tech sector to slide.

Here's what to know:

• As CNBC's Ashley Capoot and Kate Rooney write, the new details on OpenAI's revenue come as the company faces pressure to justify its enormous valuation ahead of its potential IPO.
• Shares of CoreWeave sank nearly 8%, shares of Oracle dropped almost 6% and Nvidia shares fell 3% following the news. Advanced Micro Devices, Broadcom, Intel and Super Micro Computer also all closed lower.
• The drop in AI names pushed the technology-heavy Nasdaq Composite down more than 1%, its worst day since mid-August. The index is still close to record levels after hitting fresh all-time highs earlier this week.
• SpaceX is a bright spot for the tech sector this morning. Shares of the company are climbing after it announced a deal to purchase a nationwide spectrum portfolio as it looks to take on the U.S. telecommunications market.
• Follow live market updates here.

2. Political calendar

US President Donald Trump during a campaign event at the Freeman Coliseum in San Antonio, Texas, US, on Wednesday, Oct. 7, 2026.