OpenAI’s annualized revenue estimate shifts toward $50 billion, shaking pre-IPO contract pricing
AI Market Summary
Reports that OpenAI's annualized revenue was ~50B (vs a previously cited ~70B) briefly triggered a selloff in Liquid's cash-settled pre-IPO perpetual contract and spilled into AI-exposed tech risk, before rebounding. Subsequent clarification suggests the gap largely reflects gross vs net revenue presentation rather than a true demand slowdown, reducing immediate downside signal but highlighting sensitivity to AI monetization metrics.
Impact level
● Medium
Affected assets
NCSKOPENAI2USD/USDT+2.96%
AI Insight · NCSKOPENAI2USD/USDTAI Insight
● Neutral
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The Financial Times and Reuters reported that OpenAI’s annualized revenue was approaching $50 billion at the end of September, below the nearly $70 billion run-rate previously signaled to investors. The gap stems from different reporting bases, with the earlier figure framed on a gross basis and the roughly $50 billion figure presented on a net basis. On Liquid, OpenAI’s cash-settled pre-IPO perpetual contract slid from about $1,725 to below $1,600 before rebounding. Some traders initially read the change as a sharp growth slowdown, though it largely reflected a shift in accounting presentation.
