OpenAI missed internal growth projections for users and revenue, sparking stock selloff across AI infrastructure companies

The Wall Street Journal reported that OpenAI has recently missed its own projections for user growth and revenue. Finance chief Sarah Friar warned colleagues that if revenue growth doesn't accelerate, the company could face difficulty funding future compute agreements.

Stock prices fell sharply in response: Oracle dropped about 7.5% in premarket trading Tuesday (Oracle has a $300 billion, five-year partnership to supply computing power to OpenAI); chipmakers including Nvidia, Broadcom, and Advanced Micro Devices declined between roughly 2% and 5%; Qualcomm pulled back 3.5%; CoreWeave dropped 7%; and SoftBank Group, one of OpenAI's largest investors, sank about 10% in Asia.

The shortfall has sparked concern that companies selling into the AI buildout—from data-center operators to chip designers—may be priced for growth that proves difficult to sustain if demand from key customers like OpenAI cools.