AI Stocks Sink After OpenAI Reports $50 Billion Revenue, Below Widely Cited $68 Billion
Updated
Updated · CNBC · Oct 8
AI Stocks Sink After OpenAI Reports $50 Billion Revenue, Below Widely Cited $68 Billion
3 articles · Updated · CNBC · Oct 8
Summary
Nvidia, Oracle, CoreWeave and other AI shares fell Thursday after investors learned OpenAI’s annualized revenue was about $50 billion at the end of September.
The figure came in below the $68 billion number widely reported last month; a person familiar with the matter said that higher total included gross revenue from OpenAI’s partners.
OpenAI told investors its third-quarter run rate grew 77%, with enterprise run rate up 107%, as it tries to support an $852 billion valuation ahead of an expected 2027 IPO.
The company, which confidentially filed a prospectus in June, is also in early talks on a new funding round that could raise about $30 billion, though no term sheet is finalized.