OpenAI Annualised Revenue Falls $20B Short of Prior Signal
Summary
OpenAI told investors its annualised revenue was approaching $50B at end of September, far below the $70B previously reported. That's a $20B shortfall, a material miss that raises questions about growth trajectory and pricing power. OpenAI and Anthropic book revenues differently in their accounts, which explains the discrepancy. The disclosure follows a series of high-profile safety incidents and a scrapped GPT-6.1 Astra model, adding to concerns about execution. This is the first concrete financial data point contradicting earlier bullish signals, and it will force a re-rating of the company's valuation. US tech and AI stocks sank, with Nasdaq down 1.3% and chip stocks down 4%, after the FT reported the revision to OpenAI's revenue estimate.
Updated with a Reuters report · What changed
Updates
· Seeking Alpha — OpenAI's annualized revenue reached $50 billion at the end of September, below the $68 billion reported the previous month.
· Reuters — US tech and AI stocks sank, with Nasdaq down 1.3% and chip stocks down 4%, after the FT reported OpenAI's annualized revenues are $20 billion lower than the $70 billion previously signaled.
- OpenAI and Anthropic book revenues differently in their accounts, which explains the discrepancy.
This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.