Shares of Micron, Nvidia and other AI-linked stocks fell on October 8 after OpenAI’s annualized revenue run rate came in at approximately $50 billion, well below prior estimates of $68-70 billion. Nvidia dropped around 3%, Oracle fell 5% to 6%, while AMD, Broadcom and Intel each declined 4% to 5%. The Nasdaq Composite fell approximately 1.25%. The gap was attributed to differences in how OpenAI and rival Anthropic account for revenue, rather than signaling a slowdown, as OpenAI’s quarterly run-rate growth still reached 77%.
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