The Nasdaq 100 index declined by more than 300 points within 30 minutes on Thursday afternoon. This market movement followed a report from the Financial Times stating that OpenAI informed its investors of an annualized revenue near $50 billion as of the end of September. This figure is approximately $20 billion lower than the $70 billion estimate previously reported in September.
The discrepancy in revenue figures arises from different accounting methods. While OpenAI excludes sales made through cloud partners like Amazon Web Services and Google Cloud, competitors such as Anthropic include them. Despite the lower projection, OpenAI reported that its revenue grew by more than 70% during the period. Audited documents indicate the company booked $13.07 billion in revenue throughout 2025.
Broader economic factors also contributed to the decline of tech stocks. The 30-year US Treasury yield reached a two-decade high, and Brent crude prices rose above $100 per barrel due to supply concerns in the Middle East. Additionally, market sentiment was affected by reports that Broadcom is seeking over $50 billion in financing for custom chip development in collaboration with OpenAI.
