AMD 주가가 OpenAI 매출 공백 우려에 AI 관련주가 흔들리면서 6.36% 하락했다.
Advanced Micro Devices shares fell 6.36% over three consecutive sessions through October 9, 2026, as investors reassessed the outlook for artificial intelligence spending after a reported gap in OpenAI's revenue figures. The decline raised concerns about demand for AMD's AI processors, because OpenAI is one of three customers with announced gigawatt-scale GPU agreements with the chipmaker.
According to Yahoo Finance, AMD closed at $608.10 on October 9, down from a record closing price of $649.42 on October 6. The shares lost 3.90% on October 8, ending at $620.68 after falling as much as 4.55% intraday.
The concerns followed a Financial Times report that OpenAI's annualized revenue had reached approximately $50 billion at the end of September, substantially below the $68 billion figure widely reported the previous month. CNBC independently confirmed the $50 billion estimate. The discrepancy prompted selling in AMD, Nvidia and Oracle shares.
The reported difference concerns how revenue was counted rather than confirmed lost sales. On October 9, Bloomberg reported, citing unnamed sources, that OpenAI expected to reach at least $70 billion in annualized revenue by year-end.
OpenAI's financial disclosures have drawn particular attention because the company is seeking to support a valuation exceeding $850 billion. CEO Sam Altman has confirmed that OpenAI will not pursue an initial public offering in 2026.
AMD's customer concentration adds another dimension to the market reaction. OpenAI and Meta Platforms each signed agreements covering 6 gigawatts of AMD Instinct GPUs, with initial deliveries scheduled to begin in the second half of 2026. Anthropic agreed to deploy up to 2 gigawatts starting in the first half of 2027, while AMD committed to invest up to $5 billion in Anthropic.
AMD Chair and CEO Lisa Su described the Anthropic agreement as a major partnership expansion. "Thrilled to deepen our partnership with Anthropic and deploy AMD Helios at gigawatt scale," she said.
AMD's management has also acknowledged its reliance on large AI customers. Dan McNamara, senior vice president and general manager of Compute Enterprise AI, addressed the issue at the Goldman Sachs Communacopia + Technology Conference on September 11. "We're concentrated from an AI standpoint," he said.
McNamara also described the company's immediate operational priorities. "We're very focused on delivering to our top customers right now with Helios," he said.
AMD has issued warrants allowing OpenAI and Meta to acquire up to 160 million shares each, potentially totaling 320 million shares, or approximately 20% of AMD's 1,632.48 million outstanding shares. OpenAI's final warrant tranche carries a $600 share-price threshold, below AMD's October 9 closing price, which makes GPU delivery milestones a key condition for the remaining shares. Delayed deployments could postpone both revenue and potential share dilution.
Matt Ramsay, AMD's corporate vice president of financial strategy and investor relations, said the company intends to broaden its relationships with major computing customers while continuing to serve smaller clients. "How can we, at scale, be your high-performance computing partner," he said.
Ramsay reiterated AMD's growth targets presented at its analyst day. "More than 60% growth of the data center franchise, more than 80% of growth of the AI business," he said. He added that AMD expects to outgrow an addressable market estimated at approximately $2 trillion by 2030, with the market expanding 40% annually.
Beyond AMD, other AI-related listings have faced scrutiny. Research firm New Constructs criticized Anthropic's reported pursuit of a $2 trillion Nasdaq listing valuation, calling it "the most ridiculous IPO of 2026" and arguing that it "presents far bigger risks and is positioned to be a far bigger rip-off of U.S. capital markets." Meanwhile, Australian AI infrastructure company Firmus, backed by Nvidia, withdrew its planned initial public offering, citing market volatility.
Elsewhere in the technology sector, SpaceX founder Elon Musk criticized Indian billionaire Mukesh Ambani over delays in launching Starlink in India. Musk said his company had spent "five years complying with every single law and requirement" and asked, "Is Ambani the real boss of India?" He had previously accused unnamed "oligarchs" of maintaining a "monopolistic chokehold on the Indian people."
The immediate focus for AMD investors remains whether major AI customers will maintain their planned infrastructure spending and GPU deployment schedules as markets reassess OpenAI's reported revenue trajectory.