AI chip stocks fall following reports on OpenAI annualized revenue figures
Shares in major artificial intelligence hardware and infrastructure companies fell after detailed revenue figures from OpenAI raised market concerns.
FTMQ Startups, written by our newsroom0 views
Shares of Nvidia, Micron, Oracle, and CoreWeave fell on October 8, 2026, following news regarding OpenAI's revenue details. CNBC and MarketWatch reported that the selloff across artificial intelligence chip and software stocks was triggered by reports on the startup's financial figures. Analysts noted that the market decline reflected undue concern, attributing the lower figures to differences in revenue reporting methods rather than weakening demand for artificial intelligence infrastructure. [1][2][3][4][7]
CNBC confirmed that OpenAI informed investors it reached approximately $50 billion in annualized revenue at the end of September 2026. This figure came in lower than the $68 billion figure widely reported late last month. According to CNBC, a person familiar with the matter stated that the previously cited $68 billion figure had included gross metrics rather than net figures. [2]
Nvidia develops graphics processing units and systems on chips for high performance computing and artificial intelligence applications. The company was founded in 1993 by Jensen Huang, Chris Malachowsky, and Curtis Priem, and maintains its headquarters in Santa Clara, California. [8]
The market reaction highlights how closely public stock valuations for chipmakers and cloud infrastructure providers are linked to the reported financial performance and revenue metrics of leading artificial intelligence startups. [1][2]
In short
- OpenAI told investors it hit roughly $50 billion in annualized revenue at the end of September 2026.
- The $50 billion annualized revenue figure was lower than a previously reported $68 billion estimate.
- Shares of Nvidia, Micron, Oracle, and CoreWeave fell following the revenue report.
- Analysts indicated the revenue discrepancy reflected reporting methodology differences rather than lower demand.
Sources
Every paragraph above points to the numbered items it rests on. Read the originals here.
- [1]Micron, Nvidia and AI chip stocks fall as report on OpenAI’s revenue causes ‘undue concern’MarketWatch Top Stories, 2h ago (the report this story comes from)
- [2]Nvidia, Oracle, CoreWeave and other AI stocks sink on OpenAI revenue reportCNBC Tech, 3h ago
- [3]Micron, Nvidia and AI chip stocks fall as report on OpenAI’s revenue causes ‘undue concern’MarketWatch, 2h ago
- [4]Micron, Nvidia and AI Chip Stocks Fall as Report on OpenAI's Revenue Causes 'Undue Concern'Moomoo, 2h ago
- [5]Nvidia and Micron Set to Dominate S&P 500 Earnings as AI Spending Boom Drives 29.5% Profit SurgeBigGo Finance, 20h ago
- [6]97 Billion Nvidia Partners Just Got a Strong Buy Endorsement (Hint: It's Not Palantir or Micron)The Motley Fool, 14h ago
- [7]Micron, Nvidia shares fall after OpenAI revenue report raises concernsCrypto Briefing, 1h ago
Background
- [8]Nvidia on Wikipedia
- [9]CHIPS and Science Act on Wikipedia
- [10]AI bubble on Wikipedia
Our newsroom writes these reports with the help of software, from the 10 sources listed and nothing else, and checks them against those sources. Facts can still be wrong or move on; the originals are the record. Spotted a mistake? Write to daniel@monsterkong.com.
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