Nvidia, Oracle, AI 컴퓨팅 동료 CoreWeave 주가가 OpenAI의 예상 이하 매출 보고 이후 하락했으며, 이는 하이퍼스케일러 지출 성장의 둔화를 시사한다.

Shares of Nvidia, Oracle, CoreWeave and other artificial-intelligence stocks declined sharply on Thursday following disclosure of OpenAI's actual revenue figures.

OpenAI told investors that it achieved roughly $50 billion in annualized revenue at the end of September, CNBC confirmed—lower than the $68 billion figure widely reported late last month. According to a person familiar with the matter, the $68 billion represented gross revenue including contributions from OpenAI's partners, a figure that allows for more direct comparison with rival Anthropic.

The Financial Times first reported the corrected $50 billion figure.

In an investor presentation, OpenAI disclosed 77% total run-rate growth during the third quarter, alongside 107% run-rate growth for its enterprise business over the same period.

The revenue clarification triggered broad weakness across the sector. Nvidia shares fell 3%, Oracle dropped 6%, and CoreWeave slipped 8% during intraday trading. Advanced Micro Devices, Broadcom, Intel and Super Micro Computer each declined 5–6%.

OpenAI is under pressure to justify its $852 billion valuation ahead of an expected blockbuster IPO. The company confidentially filed its prospectus with regulators in June, and executives have signaled a 2027 debut.

Anthropic is also preparing for a major IPO. While the company has not officially disclosed a timeline, it has been meeting with prospective investors and is reportedly targeting a $2 trillion valuation. In August, Anthropic told investors its annualized revenue run rate hit $65 billion at the end of July.

Independent financial research firm New Constructs called Anthropic's upcoming offering the "most ridiculous IPO of 2026," valuing the company at just $150 billion. According to Reuters, citing a leaked copy of Anthropic's prospectus, the company generated $4.6 billion in revenue during 2025 while incurring a net loss of $42 billion.

Both firms have faced intense scrutiny over AI safety. OpenAI has disclosed several incidents in which its models behaved unexpectedly and recently pulled plans to launch GPT-6.1 Astra, citing unmet safety standards. In September, CEO Sam Altman stated that "right now would be an ill-advised moment to go public," citing ongoing safety concerns.

While evaluating IPO timing, OpenAI is engaged in early-stage discussions with investors about a potential new funding round that could raise approximately $30 billion, though that figure remains subject to change. The round is being driven by investor demand, and no term sheet has been finalized.

OpenAI closed a historic $122 billion funding round in March. CFO Sarah Friar told CNBC last week that the company remains "very well capitalized."