OpenAI revenue shock sends Nvidia, Oracle and CoreWeave stocks lower today. Here's what happened

Nvidia, Oracle and CoreWeave shares fell on Thursday. After a report that OpenAI’s annualized revenue was about $50 billion, which was almost $20 billion below the figure that had been previously reported.

The stocks fell after OpenAI told investors that its annualized revenue was about $50 billion at the end of September, earlier reports had said that the revenue was roughly $68 billion to $70 billion. As investors continue to closely watch the rapid growth of the AI industry and the companies providing the technology, infrastructure and computing power behind it. OpenAI’s revenue growth therefore remains an important part of the broader market’s focus on AI spending and valuations.

Nvidia Stock Falls After OpenAI Revenue Update

Nvidia shares declined Thursday following the report on OpenAI’s annualized revenue.


The company was among the AI stocks that fell as the market reacted to the new figure. Other technology stocks also moved lower during the session.

Oracle Stock Drops More Than 5%

Oracle shares were among the biggest decliners tied to the OpenAI report.

The stock fell more than 5% during Thursday’s trading session, Oracle was one of the companies whose shares came under pressure after the new OpenAI revenue figure emerged.

CoreWeave Stock Also Moves Lower

CoreWeave shares also fell Thursday following the disclosure about OpenAI’s annualized revenue.

Nvidia, Oracle and CoreWeave were among the AI-linked stocks affected by the report, while the Nasdaq was also lower during the session.

Why OpenAI’s Revenue Figure Changed

The roughly $20 billion difference between the two figures does not mean OpenAI lost $20 billion in sales.

The difference resulted from how the revenue figures were calculated.

Investors had previously adjusted OpenAI’s revenue to make it more comparable with Anthropic’s figures. Anthropic includes the full value of sales made through cloud partners, while OpenAI uses a different approach.

That calculation contributed to the earlier figure of roughly $68 billion to $70 billion.

OpenAI’s latest figure puts its annualized revenue at approximately $50 billion.

OpenAI Revenue Had Still Grown More Than 70%

OpenAI told investors late last month that its annualized revenue run rate had increased by more than 70% since the start of the third quarter, as per a Yahoo Finance report.

An investor presentation also showed 77% third-quarter run-rate growth across the business and 107% growth in its enterprise segment, as per a CNBC report.

The new figure therefore changes the previously reported level of OpenAI’s annualized revenue, rather than representing a $20 billion decline in actual sales.