OpenAI has told investors that its annualized revenue was close to $50 billion as of the end of September, according to a Financial Times report citing an investor memo. The figure is about $20 billion lower than the widely circulated $70 billion number reported last month.
The reported gap comes down to accounting treatment. OpenAI does not include sales generated through cloud partners such as Amazon Web Services and Google Cloud, while Anthropic counts that category of revenue, the report said. OpenAI also told investors that revenue still grew by more than 70% over the period.
The report said the news, together with other pressures, hit broader tech stocks. The Nasdaq 100 fell by more than 300 points in roughly half an hour on Thursday afternoon. Before the report was published, the index was already under pressure from bond yields reaching a 20-year high, oil moving above $100 a barrel, and concerns around AI lending.
OpenAI told investors that its annualized revenue was close to $50 billion as of the end of September, the Financial Times reported, citing a memo sent to investors. The figure is roughly $20 billion below the $70 billion level that was widely reported last month.
According to the report, the difference stems from accounting treatment. OpenAI does not count sales generated through cloud partners such as Amazon Web Services and Google Cloud, while Anthropic does include that revenue.
Revenue still grew more than 70%
OpenAI told investors that its revenue still increased by more than 70% over the period.
Nasdaq 100 drops more than 300 points
The report said the news, along with other factors, pushed the Nasdaq 100 down by more than 300 points in about half an hour on Thursday afternoon. The tech index had already been under pressure before the report, with bond yields at a 20-year high, oil above $100 a barrel, and concerns over AI lending.
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