Tech stocks fall as reports indicate OpenAI revenue is below prior estimates.
Global technology markets reacted negatively after new data suggested OpenAI Group PBC is earning less money than widely believed this year.
9 Oct 2026
Shares of technology companies dropped sharply on Thursday. This decline followed news that OpenAI Group PBC earns less money than many people thought. The markets began moving down before the official report arrived.
Data published by the Financial Times changed how investors see the company's income. Officials told prospective buyers their annualized revenue sits near $50 billion. This number is far below the $68 billion figure that circulated two months ago.
One person with knowledge of the situation says the earlier total included partner money. The current figure relies on net revenue earned directly by OpenAI. Analysts note that using these different methods makes direct comparisons difficult for buyers.
Broad market indexes also felt the stress of the announcement. The Nasdaq index fell 1.25% to its lowest point since mid-August. The S&P 500 saw a smaller drop of 0.5% during the same trading session.
Specific hardware and cloud providers took the biggest losses in the day. Oracle Corp shares dropped 5.5% while Intel Corp fell 5.3%. CoreWeave Inc lost 8% after falling with the broader tech sector trend.
Investors worry about the high costs required to run artificial intelligence systems today. Holger Mueller from Constellation Research says there is little room for error. He believes buyers must understand the true state of industry finances better.
OpenAI faces pressure to justify a valuation of $852 billion before going public. Chief Executive Sam Altman confirmed plans for a 2027 debut instead of this year. The company filed confidential papers in June regarding its future listing plans.
Rival firm Anthropic PBC also faces questions about its business worth. A separate analyst group valued the company at $150 billion last week. This assessment stands far below the $2 trillion target often discussed by supporters.
Sources have not agreed on the exact financial numbers reported in recent months. Some documents cite higher earnings from earlier reports while others list lower figures later.