OpenAI revenue gap report rattles AI stocks

According to the Financial Times, OpenAI's actual annualised revenue is about $20 billion lower than previously reported, raising concerns about the strength of the AI industry. The company had stated its annualised revenue was around $50 billion as of the end of September, but media reports indicated it could be as high as $70 billion based on information provided to investors.

Investors closely watch OpenAI's and Anthropic's annualised revenue figures as clear indicators of demand for artificial intelligence, which in turn justifies substantial investments in data centres and fuels the AI-fueled stock market surge. A source familiar with the situation told CNBC that the higher figure, reported as $68 billion, included gross revenue from OpenAI's partnerships with companies like Nvidia, a method intended to simplify investor comparisons with rival Anthropic.

The news negatively impacted AI-linked stocks, with Nvidia falling 2.9 percent, SpaceX down four percent, and Oracle losing nearly six percent. OpenAI has not yet commented on the report. The development comes as OpenAI negotiates a new private fundraising round that could value the company at approximately $1.4 trillion, per the Financial Times.

OpenAI was anticipated to go public this fall but has delayed the listing. Anthropic, a rival, is set to list on the public markets next month.