OpenAI Tells Investors Revenue Near $50 Billion, Below $70 Billion Target
OpenAI's annualized revenue is expected around $50 billion, about $20 billion below the previously expected $70 billion, sending tech stocks lower on October 8, 2026.
OpenAI told investors its annualized revenue is expected to be around $50 billion, about $20 billion below the previously expected $70 billion figure, according to the Financial Times and other foreign outlets on October 8, 2026. The figure triggered a selloff in US technology and semiconductor stocks that day.
The Nasdaq fell 1.25%, its worst session since mid-August. The S&P 500 dropped 0.5%. Chip and enterprise-technology shares were hit hardest: Nvidia fell 2.9%, Intel fell 5.3%, Oracle fell 5.5% and AMD fell 3.9%.
According to CNBC, the $70 billion revenue target did not come from OpenAI and may have originated from investors looking to compare Anthropic with OpenAI. CNBC also reported that investors have doubts whether AI demand is strong enough to justify the massive infrastructure spending by companies such as OpenAI and Anthropic.
Quick answers
How much annualized revenue did OpenAI tell investors to expect?
OpenAI told investors its annualized revenue is expected to be around $50 billion, about $20 billion below the previously expected $70 billion.
How did US tech stocks react to the OpenAI revenue figure?
The Nasdaq fell 1.25% (its worst session since mid-August) and the S&P 500 dropped 0.5%. Nvidia fell 2.9%, Intel fell 5.3%, Oracle fell 5.5% and AMD fell 3.9%.
Where did the $70 billion revenue target come from?
CNBC reported that the $70 billion target did not come from OpenAI and may have originated from investors wanting to compare Anthropic with OpenAI.