What caused the AI stock selloff on October 8?

The Financial Times reported OpenAI's annualized revenue was about $50 billion, roughly $20 billion below figures widely reported in September. Nvidia dropped about 3%, erasing roughly $170 billion in value, while Broadcom fell more than 4%.

Is the $50 billion figure the only way to count OpenAI's revenue?

No. The gap came down to how revenue was counted. The higher September figure includes sales through OpenAI's cloud partners, which OpenAI's own number leaves out.

AI Stocks & MarketsAI Business & IndustryYahoo Finance AI3m agoOct 13, 2026, 13:00 JST

October 8 OpenAI revenue scare: $50 billion print sinks Nvidia, Broadcom

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3 Key Points

What happened
On October 8, the Financial Times reported OpenAI's annualized revenue was about $50 billion, roughly $20 billion below September figures. Nvidia dropped about 3%, erasing roughly $170 billion in value, and Broadcom fell more than 4%.
Why it matters
The drop reflects a market reaction that was a mistake, since Nvidia sells to nearly every major AI lab and cloud provider, so one company's revenue figure says little about its overall demand.

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Context & Analysis

The scare traced back to a revenue-counting gap. The higher September figure included sales through OpenAI's cloud partners, which OpenAI's own number leaves out, so the two headlines were measuring different things.

The market overreacted. Nvidia sells to nearly every major AI lab and cloud provider, so one company's revenue figure says little about its overall demand.

Broadcom's link to OpenAI is more direct, since it is building OpenAI's custom AI chips under a 10-gigawatt deal. The night before, the Wall Street Journal reported the company was working to arrange more than $50 billion in financing tied to that work, with talks described as early and Bloomberg putting the debt at about $30 billion for the next phase. Landing a day ahead of the OpenAI revenue headline, that report made the risk look bigger.

FAQ

What caused the AI stock selloff on October 8?: The Financial Times reported OpenAI's annualized revenue was about $50 billion, roughly $20 billion below figures widely reported in September. Nvidia dropped about 3%, erasing roughly $170 billion in value, while Broadcom fell more than 4%.
Is the $50 billion figure the only way to count OpenAI's revenue?: No. The gap came down to how revenue was counted. The higher September figure includes sales through OpenAI's cloud partners, which OpenAI's own number leaves out.

Yahoo Finance AIRead Original Article

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