Morning Call Sheet: AI spending, earnings and policy risks in focus

• OpenAI missed key revenue and user targets, but continues high spending for future growth, with questions on monetization for tech giants.
• AI regulation is a growing, underappreciated risk, particularly with potential shifts in political control post-midterms.
• Central banks, including the Fed, are expected to keep rates on hold due to elevated, supply-driven inflation, with a focus on upcoming decisions from G10 countries.

Analysts discuss OpenAI's missed revenue targets and high spending, raising questions about monetization for the 'Magnificent 7' tech companies. They also highlight growing regulatory risks for AI, especially post-midterms, and anticipate central banks, including the Fed, will remain on hold due to elevated, supply-driven inflation, despite a strong earnings season.