Open AI shocks investors: Is the company making much less revenue than the stock exchange believed?
The projected annual turnover of Sam Altman's AI company is currently said to be $50 billion, not $70 billion as previously reported. The news caused the stock prices of numerous tech companies to fall on Thursday.
The projected annual revenue of Sam Altman's AI company, Open AI, is currently around $50 billion, not $70 billion as previously reported. This news caused the stock prices of many tech firms to fall, with the Nasdaq index dropping by 1.5%. Companies involved in building AI infrastructure, such as Micron, Oracle, Broadcom, and Nvidia, saw their stock prices decline by 2-5%.
Open AI aims to reach an annualised revenue of $70 billion by the end of the year. The discrepancy in revenue figures has raised questions about how the markets misjudged the company's performance by $20 billion.
Written by urgent.news from NZZ Wirtschaft's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
