OpenAI revenue $18 billion short of $68 billion mark

The shortfall lands at a moment when money is still pouring into nearly every hardware and software company with AI in its pitch deck, which is why the writer stopped short of calling an AI bubble. The market reaction was sharp precisely because expectations, not absolute revenue, are what investors trade on. That dynamic is visible in the wider week: Alphabet spinoff Isomorphic Labs is reportedly raising at a valuation of up to $50 billion on the promise of faster drug development, while two quantum computing companies, Oratomic and Universal Quantum, pulled in $475 million and more than $100 million respectively. In that light, a $50 billion revenue base could look modest only against a $68 billion promise. The same tension runs through the policy news, where the White House barred Microsoft and other companies from sponsoring green card applications under a federal program, after JD Vance accused Microsoft of fraud. It also runs through product news, as Google debuted a Gemini assistant that can act autonomously across devices and OpenAI, Anthropic and others released new models.