OpenAI cuts 2026 revenue forecast to $50bn, $20bn below prior estimate

OpenAI has told investors its 2026 revenue will reach $50bn, roughly $20bn below the $70bn projection it signaled last month, raising questions about the pace of AI demand growth. The news buffeted US tech stocks on Thursday, with the Nasdaq closing down 1.4%. The discrepancy stems from OpenAI investors seeking a direct comparison with rival Anthropic, which reported $65bn in forecast revenue by July. Anthropic includes cloud partner sales from Amazon and Google, while OpenAI does not, creating the gap in measurement methods. OpenAI is in early talks to raise $30bn at a $1.4tn valuation, following a $122bn round in March. Anthropic is expected to pursue an IPO as soon as next month, while SoftBank founder Masayoshi Son seeks up to $100bn from Gulf states for AI investments.