Chips & Supply · United States

Nvidia, Oracle, CoreWeave and other AI stocks sink on OpenAI revenue report

Credited to CNBC · cnbc.com · 20h ago

Sam Altman, CEO of OpenAI, the developer of ChatGPT, is speaking at the AI company's developer conference on Sept. 29, 2026.

Andrej Sokolow | Picture Alliance | Getty Images

Shares of Nvidia, Oracle, CoreWeave and other artificial intelligence names sank lower on Thursday after the market learned more details about OpenAI's revenue.

OpenAI told investors that it hit roughly $50 billion in annualized revenue at the end of September, CNBC confirmed, lower than the the $68 billion figure that was widely reported late last month. A person familiar with the matter said the $68 billion figure included gross revenue from OpenAI's partners, which helps investors make a more direct comparison with its chief rival, Anthropic.

The Financial Times was first to report the $50 billion figure.

OpenAI shared an update about its finances in an investor presentation, said the person, who asked not to be named in order to discuss the numbers. In addition to the $50 billion in annualized revenue, OpenAI touted 77% total run rate growth during its third quarter, as well as 107% run rate growth for its enterprise business during the same period, the person said.

Nvidia shares fell 3%, Oracle shares fell nearly 6% and CoreWeave shares slipped nearly 8% on Thursday. Additionally, Advanced Micro Devices fell 4%, Broadcom fell 4%, Intel fell 5% and Super Micro Computer fell nearly 5%.

Scrapped IPO of Nvidia-Backed Company Points to Limits of AI Boom

Credited to Barron's$ · wsj.com10h ago

Useful

Australian cloud-computing firm Firmus Grid had sought a $30 billion valuation despite having only two operational data centers.

View the article · $Barron's

Front Method