Nvidia, Oracle, CoreWeave and other AI stocks sink on OpenAI revenue report

Sam Altman, CEO of OpenAI, the developer of ChatGPT, is speaking at the AI company's developer conference on Sept. 29, 2026.Andrej Sokolow | Picture Alliance | Getty ImagesShares of Nvidia, Oracle, CoreWeave and other artificial intelligence names sank lower on Thursday after the market learned more details about OpenAI's revenue.OpenAI told investors that it hit roughly $50 billion in annualized revenue at the end of September, CNBC confirmed, lower than the the $68 billion figure that was widely reported late last month. A person familiar with the matter said the $68 billion figure included gross revenue from OpenAI's partners, which helps investors make a more direct comparison with its chief rival, Anthropic.The Financial Times was first to report the $50 billion figure.OpenAI shared an update about its finances in an investor presentation, said the person, who asked not to be named in order to discuss the numbers. In addition to the $50 billion in annualized revenue, OpenAI touted 77% total run rate growth during its third quarter, as well as 107% run rate growth for its enterprise business during the same period, the person said.The company is under pressure to justify its $8...