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

Shares 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. 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.