Dispute over OpenAI's revenue figure sends AI stocks lower
The company puts its annualized run rate near $50 billion, well below the $70 billion figure cited earlier.
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What happened
Disputed figures for OpenAI's annual recurring revenue triggered a widespread selloff in AI stocks. OpenAI says its run rate is about $50 billion, not the $70 billion cited earlier, and its estimate is likely about $20 billion below earlier figures. Advanced Micro Devices shares fell 6% over three sessions after a record close.
Why it matters
The dispute shows how a widely followed metric can shape investor sentiment, even when the underlying figures are hard to compare.
Timeline
- Oct 10, 1:38 PM ET: A discrepancy in OpenAI's reported annual recurring revenue triggers a selloff in AI stocks.
- Oct 11, 7:32 AM ET: OpenAI says its annualized revenue run rate is about $50 billion, not $70 billion.
- Oct 11, 7:41 PM ET: OpenAI's annualized revenue run rate is estimated near $50 billion, about $20 billion below earlier estimates.
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