OpenAI Tells Investors of $50B Annualized Revenue, Below Previous $68B Estimate

OpenAI told investors in a presentation that its annualized revenue reached approximately $50 billion by the end of September, CNBC confirmed. This is lower than the $68 billion figure widely reported last month, which included gross revenue from partners to facilitate comparisons with Anthropic. The disclosure led to declines in AI stocks on Thursday: Nvidia fell 3%, Oracle nearly 6%, CoreWeave nearly 8%, AMD 4%, Broadcom 4%, Intel 5%, and Super Micro Computer nearly 5%. OpenAI is under pressure to justify its $852 billion valuation ahead of a widely expected IPO, having confidentially filed its prospectus in June and signaled a 2027 debut. CEO Sam Altman stated in September that going public now would be 'ill-advised' in part due to safety concerns. The company is in early-stage discussions for a potential $30 billion funding round, following a $122 billion round in March. Competitor Anthropic is also preparing for an IPO, reporting a $65 billion annualized revenue run rate in July and reportedly seeking a $2 trillion valuation. New Constructs called Anthropic's offering the 'most ridiculous IPO of 2026,' valuing it at $150 billion. Anthropic's 2025 revenue was $4.6 billion with a $42 billion net loss. OpenAI recently pulled plans to launch GPT-6.1 Astra due to safety standards not being met.