Financial Times says OpenAI annualised revenue near $50 billion by end-September, about $20 billion below earlier investor expectations
AI Market Summary
FT documents suggest OpenAI's annualised revenue is ~$50bn versus prior investor impressions near $70bn, partly due to earlier figures including partnership gross revenue (e.g., Nvidia). The discrepancy undermines a key demand proxy used to justify aggressive AI capex and valuation narratives, pressuring AI-linked equities. Immediate spillover hit major beneficiaries of the AI buildout, with Nvidia and other AI-exposed names selling off.
Impact level
● High
Affected assets
NCSKNVDA2USD/USDT-0.20%
AI Insight · NCSKNVDA2USD/USDTAI Insight
▼ Bearish
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OpenAI’s annualised revenue was close to $50 billion as of the end of September, about $20 billion below the roughly $70 billion figure investors had previously been given, the Financial Times reported. A person familiar with the matter said the earlier, higher number included gross revenue from partnerships with companies such as Nvidia. The disclosure weighed on AI-linked stocks and renewed questions about the durability of the AI business.
