Shares of Nvidia, Oracle, CoreWeave and other artificial intelligence companies fell sharply Thursday after details emerged about OpenAI’s revenue. The company reached roughly $50 billion in annualized revenue at the end of September, below the $68 billion widely reported last month. OpenAI posted 77% total run rate growth in the third quarter and 107% run rate growth for its enterprise business. With a valuation of $852 billion, the company is preparing for what is expected to be a blockbuster IPO in 2027 and is in early-stage discussions about a potential new funding round of around $30 billion.
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