AI stocks face selling pressure as OpenAI revenue estimates fall below previous reports
NVDA NVIDIA Corp
$230.48 -2.94%
View chart & analysis → - 1Investors sold off AI-related stocks after OpenAI's annual revenue estimates fell below previous announcements
- 2OpenAI informed investors that its annualized revenue at the end of September is $50 billion, a $20 billion difference from the $68 billion widely reported last month
- 3CEO Sam Altman confirmed the company will not go public this year, leaving the firm to justify a valuation exceeding $850 billion
So what's the key point?
OpenAI's reported annual revenue was $20 billion less than what was reported last month. This caused investors to sell AI-related stocks.
Source CNBC · View original ↗
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