OpenAI's annualized revenue is about $50 billion, not $68 billion - AI stocks fell
OpenAI told investors that its annualized revenue at the end of September was about $50 billion, not $68 billion as widely reported at the end of September, CNBC confirmed; the Financial Times reported it first. According to a person familiar with the matter, the higher figure also included gross revenue of OpenAI's partners, a presentation that makes it easier for investors to compare with Anthropic; in the third quarter, the metric rose 77 percent. After the news, Nvidia shares fell 3 percent, Oracle almost 6 percent and CoreWeave almost 8 percent, and the Nasdaq Composite lost more than 1 percent, its worst day since mid-August. OpenAI, valued at $852 billion, is aiming for an IPO in 2027.