OpenAI Revenue Report Shakes Markets: Nasdaq Sinks 1.4% as $20B Gap Emerges
OpenAI’s real revenue number is $20 billion smaller than Wall Street thought. The market did not take the news well. The Financial Times reported Thursday that OpenAI recently told investors its annualized revenue is nearing $50 billion, not the $70 billion figure that media outlets, including the FT itself, had previously cited based on information from investors. Markets dropped fast: the Nasdaq Composite sank 1.4% on the news, on pace for its worst trading day since July. ...