OpenAI annualized revenue nears $50B, ~$20B below prior reports
AI summary
OpenAI has told investors its annualized revenue was approaching $50 billion at the end of September, according to people familiar with the matter — roughly $20 billion below figures in other recent reports, including The Information's own. AI-linked shares including Nvidia, Oracle and CoreWeave fell after the news, and the Nasdaq briefly dropped more than 300 points. A Chinese-language analysis attributes the gap mainly to accounting: Anthropic books cloud-partner sales on a gross basis, while OpenAI records only its own share.
In-depth insight
OpenAI's revenue scale underpins much of the AI supply chain's valuation, so a lower-than-expected figure tests the assumption of unlimited demand growth.