India, May 22 -- A new announcement by OpenAI on Wednesday added to Apple's struggles with an uncertain business environment, which is widely attributed to US President Donald Trump's repeated calls to shift the iPhone maker's production capacities to the United States.

Apple's shares fell 0.5% on Thursday, on track for their seventh straight negative session after underperforming again on Wednesday. The fall is partly attributed to OpenAI's announcement of its acquisition of a startup focused on artificial intelligence-fueled hardware. The firm was co-founded by Apple veteran Jony Ive.

From being the world's biggest company at the start of May, in terms of market capitalization, Apple fell to third behind Microsoft Corp. and Nvidia Cor...