Why was OpenAI's revenue reported as $68 billion before?

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 Anthropic.

How did AI stocks react?

Nvidia shares fell 3%, Oracle shares fell nearly 6% and CoreWeave shares slipped nearly 8% on Thursday. AMD, Broadcom, Intel and Super Micro Computer also fell.

What other financial details did OpenAI share with investors?

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.

AI Stocks & MarketsTop Companies' AI MovesAI Business & IndustryTop Companies AI8h agoOct 9, 2026, 06:31 JST

OpenAI's $50 billion revenue figure sinks Nvidia, Oracle, CoreWeave

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3 Key Points

What happened
OpenAI told investors it hit roughly $50 billion in annualized revenue at the end of September, lower than the $68 billion figure widely reported late last month. Nvidia shares fell 3%, Oracle nearly 6% and CoreWeave nearly 8%.
Why it matters
The smaller figure suggests OpenAI's revenue run rate is well below what the market had been told, and the sharp drops in Nvidia, Oracle and CoreWeave show how sensitive AI names are to OpenAI's finances.

WHO IT HITSInvestors holding AI-linked stocks such as Nvidia, Oracle and CoreWeave saw sharp declines, while the corrected revenue figure matters most to the investors OpenAI is courting for a potential new funding round and eventual IPO.

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Context & Analysis

The revenue correction lands as OpenAI faces pressure to justify its $852 billion valuation to investors ahead of what is widely expected to be a blockbuster IPO. OpenAI confidentially filed its prospectus with regulators in June, and executives have signaled the company is eyeing a 2027 debut. CEO Sam Altman said in September that "right now would be an ill-advised moment to go public," in part because of ongoing concerns around AI safety. OpenAI has disclosed several incidents where its models behaved in unintended ways, and recently pulled its plans to launch GPT-6.1 Astra, saying the model did not meet its safety standards.

OpenAI is also engaging in early stage discussions with investors about a potential new funding round that could raise around $30 billion, CNBC previously reported, though that figure could change and no term sheet has been finalized. The company closed a historic $122 billion funding round in March, and CFO Sarah Friar told CNBC last week that it is still "very well capitalized." Rival Anthropic is preparing for a major IPO as well, and in August told investors its annualized revenue run rate hit $65 billion at the end of July.

FAQ

Why was OpenAI's revenue reported as $68 billion before?: 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 Anthropic.
How did AI stocks react?: Nvidia shares fell 3%, Oracle shares fell nearly 6% and CoreWeave shares slipped nearly 8% on Thursday. AMD, Broadcom, Intel and Super Micro Computer also fell.
What other financial details did OpenAI share with investors?: 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.

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