OpenAI Misses Revenue Target: Nvidia, Oracle and CoreWeave Fall

TVS News AI, editorially supervised, presents OpenAI Misses Revenue Target: Nvidia, Oracle and CoreWeave Fall.

According to CNBC, OpenAI reached around $50 billion in annualized revenue by the end of September – well below the internally targeted $68 billion mark. What went through the markets as a sober confirmation of a concern that had been building for months sent a shudder through the entire AI sector on Thursday.

The names hit were exclusively those that had benefited most from the AI boom over the past two years: Nvidia, Oracle, CoreWeave, AMD, Microsoft, Arm and Intel. If the most important private AI customer slows its growth, the entire supply chain comes under pressure.

For you as an investor or tech enthusiast, this means above all: The valuations of the past two years assumed extremely steep growth – and now the question of whether that pace is even sustainable is being openly calculated.

The number that moved the market

CNBC has confirmed from multiple sources that OpenAI informed investors at the end of September of an annualized revenue figure of around $50 billion. Compared to the internally targeted $68 billion mark – as cited in the Binance summary of CNBC – this represents a shortfall of roughly a quarter. Not a footnote, but a clear break in the previous growth curve.

The confirmation comes as no surprise. As early as the end of April, the Wall Street Journal had reported that OpenAI was missing internal targets for revenue and user growth; at that time, Oracle, CoreWeave and Nvidia had demonstrably come under pressure (Forbes, AOL, StockTi). What is now available is the concrete figure behind the skepticism that had arisen back then. Der Aktionär sums up the mood as follows: "Optimism about AI demand is weakening."

Why these particular stocks are hit

The mechanics are direct: OpenAI is one of the largest buyers of high-performance chips and data center capacity. Nvidia, Oracle, AMD and CoreWeave supply this infrastructure and, according to the sources, are simultaneously among the company's most important backers. If OpenAI's growth slows, it hits two sides at once: less demand for chips and cloud – and at the same time less value of their own stake in OpenAI itself.

What remains – and what to watch now

The market processed no surprise on Thursday, but rather received an answer to an open question. Whether this marks the start of a broader correction or just a pause in the upward trend cannot be read from a single trading day.

What matters now: the next quarterly reports from Nvidia and Microsoft. In Nvidia's data center segment and Microsoft's Azure growth, it will become visible whether $50 billion in annual revenue at OpenAI is enough for investors – or whether expectations are further revised downward.