On Thursday, shares of Nvidia, Oracle, CoreWeave, and other companies in the artificial intelligence sector fell after OpenAI disclosed its annualized revenue figure of approximately $50 billion, which is $20 billion less than the $68 billion previously reported.
This discrepancy arose because the higher figure included gross revenue from OpenAI's partners, complicating direct comparisons with competitors like Anthropic. OpenAI's financial update, shared during an investor presentation, also revealed a 77% total run rate growth and a 107% growth for its enterprise business in the third quarter.
As OpenAI prepares for a potential IPO, expected in 2027, it faces pressure to justify its substantial $852 billion valuation. The company is also exploring a new funding round, potentially raising around $30 billion, although this figure is subject to change. OpenAI's CFO, Sarah Friar, indicated that the company remains well-capitalized following a historic $122 billion funding round in March