OpenAI Revenue Hits $50 Billion, $20 Billion Short of Previous Estimates
Earnings·4 articles across 4 outlets·↩ Updated
Story updated Rewritten when the story materially grows; the wire is checked every 15 minutesAbout this data
OpenAI has told investors that it hit roughly $50 billion in annualized revenue at the end of September. This figure is significantly lower than the previously reported estimate of $70 billion, raising concerns among investors and contributing to a decline in AI-related stocks.
The news has led to a selloff in chipmakers and other AI stocks, as market participants worry that the artificial intelligence spending spree may be becoming harder to justify. The report has intensified scrutiny on the performance of companies heavily invested in AI technologies.
OpenAI
Sources
Every quote below is verbatim from the article it is attributed to.
SourceReports the news
“OpenAI has told investors that it hit roughly $50 billion in annualized revenue at the end of September”
CNBC — Nvidia, Oracle, CoreWeave and other AI stocks sink on OpenAI revenue report“AI group recently told investors the critical figure was approaching $50bn in September, far less than the $70bn that was widely reported”
FT — OpenAI annualised revenues $20bn less than previously signalled“OpenAI is on track to generate annualized revenue of roughly $50 billion based on its current performance”
Bloomberg — OpenAI’s Revenue Run Rate Nears $50 Billion, Less Than Reported“A selloff in chipmakers sent stocks down as a news report on OpenAI’s revenue intensified worries that the artificial-intelligence spending spree is becoming harder to justify”
Bloomberg — Stocks Fall as Reports on OpenAI Sink Chipmakers: Markets Wrap
SupportCorroborates it
“CNBC: Nvidia, Oracle, CoreWeave, and other AI stocks fell after a report that OpenAI's annualized revenue at September's end was $20B less than previously reported — Shares of Nvidia, Oracle,”
techmeme — Nvidia, Oracle, CoreWeave, and other AI stocks fell after a report that OpenAI's annualized revenue at September's end was $20B less than previously reported (CNBC)“AI stocks dropped on a report that OpenAI's projected annual revenue is roughly $20 billion lower than earlier projected.”
IBD — OpenAI Annualized Revenue $20 Billion Short, Says Report. AI Stocks Fall.“Financial Times: Docs: OpenAI told investors its annualized revenue was nearing $50B at the end of September, well below the $70B reported by media based on investor docs — AI giant recently”
techmeme — Docs: OpenAI told investors its annualized revenue was nearing $50B at the end of September, well below the $70B reported by media based on investor docs (Financial Times)“OpenAI says its annualized revenue is actually $50 billion, not $68 billion”
quartz — OpenAI says its annualized revenue is actually $50 billion, not $68 billion“It had previously been reported that the AI lab's annualized revenue was some $70 billion, but a new report claims it's a whole lot less than that.”
TechCrunch — OpenAI’s revenue is reportedly $20 billion less than previously projected
Earlier versions
- Oct 8, 4:51 PM — OpenAI Annualized Revenues Near $50B, Below $70B Previously Reported (2/2)
- Oct 8, 6:50 PM — OpenAI Annualized Revenue $20 Billion Short of Expectations (5/5)