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Nvidia, Oracle, other AI stocks sink on OpenAI revenue report
CNBC • • business
Key Points:
- Shares of AI-related companies like Nvidia, Oracle, and CoreWeave fell after OpenAI disclosed updated revenue figures, which were lower than previously reported.
- OpenAI reported approximately $50 billion in annualized revenue at the end of September, down from the widely cited $68 billion figure that included partner gross revenues.
- The company showed strong growth with a 77% total run rate increase and 107% growth in its enterprise business during Q3.
- OpenAI is preparing for a potential IPO targeted for 2027, aiming to justify its $852 billion valuation amid ongoing investor scrutiny.
- Early discussions are underway for a possible new funding round that could raise around $30 billion, driven by investor interest but with no finalized terms yet.
