BeInCrypto • October 8th 2026, 5:43 PM
Nasdaq Drops Over 300 Points After OpenAI's Revenue Comes In $20 Billion Short
Key Summary
The Nasdaq 100 plummeted over 300 points in a half-hour after a report revealed OpenAI's revenue was $20 billion short of the widely reported figure. The discrepancy stems from accounting differences between OpenAI and its peer, Anthropic. This news comes as tech stocks were already under pressure due to rising bond yields, oil prices, and AI borrowing concerns.
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Market Reaction to OpenAI Revenue Report
The Nasdaq 100 fell more than 300 points in about half an hour on Thursday afternoon. This slide came right after a report that OpenAI's revenue is running about $20 billion below the figure widely reported last month.Factors Contributing to Tech Stocks' Decline
Bond yields at a two-decade high, oil above $90, and worries about AI borrowing had pushed futures lower since early trading. Broadcom is seeking more than $50 billion in financing for a custom chip it is building with OpenAI, the Wall Street Journal reported.Implications for AI Demand and Infrastructure Spending
Revenue at OpenAI and Anthropic is a key gauge of AI demand and drives infrastructure spending, the FT noted. On Thursday, two ways of counting it sat $20 billion apart. Annualized revenue takes a company's current sales pace and stretches it over a full year. It is a projection, not money already booked. The difference comes down to accounting, according to the FT.#Nasdaq#US#Crypto#AI#MarketVolatility