On October 8, 2026, shares of major AI-linked companies declined following a report that OpenAI's annualized revenue run rate reached approximately $50 billion by the end of September. This figure fell short of previous market expectations, triggering a broad sell-off across the sector.
Nvidia shares dropped by about 3%, while Oracle saw a decline of 5% to 6%. Other chip manufacturers, including AMD, Broadcom, and Intel, experienced losses between 4% and 5%. The Nasdaq Composite index also fell by approximately 1.25% during the same trading session.
The discrepancy between the reported revenue and earlier estimates is attributed to different accounting methods used by OpenAI and its competitor Anthropic. Despite the market reaction, OpenAI reported a 77% growth in its overall third-quarter run rate, with the enterprise segment growing by 107%.
Micron Technology's stock decline is notable given its previous record gross margins of 84.9%, which were driven by high demand for DRAM and high-bandwidth memory. Meanwhile, reports suggest that OpenAI is currently discussing new funding rounds and considering an IPO in 2027.
