AI STOCKS FALL AFTER OPENAI REVENUE FIGURE REVISED LOWER

Shares in Nvidia, Oracle and CoreWeave fell on Thursday after further details emerged about OpenAI's revenue figures, according to CNBC. OpenAI told investors it reached roughly $50 billion in annualised revenue at the end of September, lower than the $68 billion figure that had been widely reported in the preceding weeks, CNBC confirmed. A person familiar with the matter, who asked not to be named, said the earlier $68 billion figure included gross revenue from OpenAI's partners, which allows investors to compare the company more directly with its competitor Anthropic. The Financial Times was the first outlet to report the $50 billion figure. Nvidia shares fell 3%, Oracle shares fell nearly 6% and CoreWeave shares fell nearly 8% on the day, CNBC reported.

The same investor presentation reported total run-rate growth of 77% for OpenAI's third quarter, along with 107% run-rate growth for its enterprise business over the same period, according to the person familiar with the matter. MarketWatch reported that the revenue figure fell short of some expectations, while citing analysts who said the lower number reflects differences in how the figure was calculated rather than any weakening in demand for artificial intelligence products. Nvidia, Oracle and CoreWeave are among the companies whose share prices are closely tied to spending on AI infrastructure, including computing hardware and cloud capacity.

Bloomberg reported separately that chipmakers remain a preferred option for investors seeking exposure to the artificial intelligence sector, even as Meta Platforms' Muse product draws attention in the race to develop leading AI agents. No company named in the reports has issued a further statement responding to the share price falls. OpenAI's investor presentation did not set out any specific further disclosures expected beyond the figures already reported by CNBC and the Financial Times.