Nvidia, Oracle, CoreWeave and other AI stocks sink on OpenAI revenue report

Shares of Nvidia, Oracle, CoreWeave, and other AI-related companies dropped on Thursday after investors learned new details about OpenAI's revenue. OpenAI told investors it reached roughly $50 billion in annualized revenue at the end of September, below the $68 billion figure widely reported. A source said the $68 billion included gross revenue from OpenAI's partners, making it more comparable to rival Anthropic. OpenAI also reported 77% total run rate growth in the third quarter and 107% growth in its enterprise business. Nvidia fell 3%, Oracle nearly 6%, CoreWeave nearly 8%, while AMD, Broadcom, Intel, and Super Micro also declined. OpenAI faces pressure to justify its $852 billion valuation ahead of a potential IPO, having confidentially filed in June and eyeing a 2027 debut. Anthropic is also preparing for an IPO and reportedly seeking a $2 trillion valuation, though New Constructs called it the "most ridiculous IPO of 2026" and valued it at just $150 billion. Both companies face scrutiny over AI safety, with OpenAI recently pulling plans to launch GPT-6.1 Astra due to safety concerns. CEO Sam Altman said in September that "right now would be an ill-advised moment to go public." OpenAI is in early talks for a new funding round that could raise around $30 billion, after closing a historic $122 billion round in March.

(Source：CNBC)