OpenAI Revenue Report Sparks AI Stock Selloff
AI stocks fell on October 8 after OpenAI’s annualised revenue run rate was reported at about $50 billion at September’s end, below earlier estimates of $68 billion to $70 billion. Nvidia shares dropped around 3%, Oracle fell 5% to 6%, and AMD, Broadcom and Intel each lost 4% to 5%. The Nasdaq Composite declined about 1.25%.
The gap may reflect differences in how OpenAI and Anthropic account for revenue, rather than a slowdown in OpenAI’s business. OpenAI’s third-quarter run rate rose 77%, while its enterprise segment grew 107%. The selloff highlights how sensitive AI stocks are to expectations about AI demand and spending. That sensitivity may also matter for crypto markets, where risk appetite and technology-sector sentiment can influence trading.
Neutral
The article concerns technology equities, not cryptocurrency, and reports no direct change to crypto regulation, adoption, or blockchain activity. The likely crypto effect is indirect: a technology-led selloff can weaken risk appetite and add short-term pressure to high-beta assets such as Bitcoin and altcoins, particularly if equities and crypto are moving in tandem. Similar risk-off episodes have sometimes coincided with crypto declines, although that relationship is inconsistent and can be outweighed by crypto-specific catalysts, liquidity, or macroeconomic news. OpenAI’s reported growth and the accounting explanation also complicate the bearish interpretation: the lower figure may reflect different revenue definitions rather than deteriorating demand. With no direct crypto catalyst and uncertain spillover, the overall market assessment is neutral. Traders may monitor Nasdaq performance, broader risk sentiment, and crypto-specific flows before treating the equity move as a sustained signal.