OpenAI's Revenue Discrepancy Sparks Market Concerns
Investors are reacting to conflicting revenue figures for OpenAI, which has led to volatility among major U.S. tech stocks. According to a report confirmed by CNBC, the company’s annualized revenue was estimated at $50 billion as of September's end—significantly lower than previously reported estimates of $68 billion. This discrepancy caused an AI sell-off affecting companies like Nvidia and Oracle. OpenAI CEO Sam Altman has stated that the firm will not pursue an IPO this year, despite its valuation exceeding $850 billion. Meanwhile, futures are rebounding from Thursday's declines as markets prepare to open higher on Friday. In related news, Anthropic is reportedly aiming for a $2 trillion valuation in its upcoming Nasdaq listing.
Topics: futures_market OpenAI revenue_discrepancy stock_sell-off