OpenAI’s Revenue Shrinks by $20B After Accounting…
By Damilola Esebame
AI summary of the source article
OpenAI's annualized revenue run rate is closer to $50 billion than the $68 billion to $70 billion figures cited in late September, as earlier numbers included gross revenue from partner companies rather than OpenAI's net revenue. The clarification triggered a stock sell-off for heavily exposed AI infrastructure partners, causing Oracle to fall around 5.5%, CoreWeave to drop nearly 8%, and Nvidia to slide roughly 3%. OpenAI, which posted a $38.5 billion net loss on $13.07 billion in revenue for 2025, maintains that its underlying commercial momentum remains strong while it targets a $30 billion funding round and an IPO in 2027.
Why it matters
The $20 billion gap alters assumptions regarding AI commercial momentum that investors have used to justify massive capital expenditure commitments for cloud and chip suppliers.
Key facts
- OpenAI's annualized net revenue run rate stood at approximately $50 billion at the end of September, compared to previously cited gross figures near $68 billion.
- Shares of AI infrastructure partners fell following the reports, with Oracle down about 5.5%, CoreWeave down nearly 8%, and Nvidia sliding roughly 3%.
- OpenAI is pursuing a $30 billion funding round and targeting a public listing in 2027, with CEO Sam Altman ruling out a 2026 IPO.