OpenAI tells investors its annualized revenue hit US$50 billion, roughly US$20 billion below earlier figures
US artificial intelligence stocks sold off on Thursday, after OpenAI’s annualized revenue was put at roughly US$50bn at the end of September, about US$20bn below figures previously given to investors.
The S&P/TSX Composite Index closed higher the same session.
The Financial Times reported the number first, and Reuters confirmed it through people familiar with the matter.
OpenAI declined to comment to CNN.
The Nasdaq Composite closed down 1.25 percent at 27,193.34, its worst session since mid‑August, CNN reported.
CNBC put the S&P 500 at 7,765.36, down 0.47 percent, with the Dow Jones Industrial Average adding 51.77 points, or 0.1 percent, to 51,231.64.
Chipmakers, up more than 80 percent so far in 2026, fell 3.4 percent as a group, according to Reuters.
Oracle dropped 5.5 percent and Intel 5.3 percent, CNN reported, while CNBC recorded a loss of nearly 8 percent at CoreWeave.
Nvidia fell 2.9 percent, per CNN.
A person familiar with the matter told CNBC that the US$68bn figure circulated in late September included gross revenue from OpenAI’s partners.
Reuters reported that earlier figure as approaching US$70bn.
OpenAI, unlike Anthropic, does not count revenue from sales through cloud partners such as Amazon’s AWS and Alphabet’s Google Cloud, Reuters reported, noting that analysts consider annualized revenue run rate a sometimes misleading metric often calculated by multiplying one month’s revenue by 12.
Ross Mayfield, investment strategist at Baird, told CNN that “there are going to be tremors throughout all of the related sub-industries.”
He said the market has become more concentrated and depends on AI names.
The S&P/TSX Composite rose about 0.3 percent to roughly 35,146 on Thursday, Trading Economics data show, a day after it fell 608 points, or 1.7 percent, to 35,042, its lowest close since July 20, according to The Motley Fool Canada.
Brent crude rose 4.07 percent to US$104.28 a barrel and West Texas Intermediate settled 3.64 percent higher at US$91.49, CNBC reported, after attacks on shipping in the Strait of Hormuz and a cut in US output tied to hurricane activity, per Reuters.
The 10-year US Treasury yield was last down 5 basis points at 5.227 percent and the 30‑year down 6 basis points at 5.601 percent, CNBC reported, after both hit fresh 24‑year highs earlier in the week.
According to Reuters, CME’s FedWatch tool put the probability of a December US rate hike at 69.2 percent.
The Bank of Canada held its policy rate at 2.25 percent on September, its seventh consecutive hold, with its next announcement and Monetary Policy Report scheduled for October 28.
