OpenAI's Revenue Gap Shakes AI Stocks as Investors Reassess Growth

AI stocks fell Thursday after reports showed OpenAI's annualized revenue was about $50 billion, roughly $20 billion below earlier reported figures, prompting investors to reassess growth expectations for the AI sector. The discrepancy stems from different accounting methods, as some estimates included gross revenue from cloud partners while OpenAI's figure excluded partner shares. The Nasdaq Composite dropped 1.25%, with Nvidia, AMD, and Oracle falling 2.9%, 3.9%, and 5.5% respectively. The selloff highlighted market sensitivity to AI client developments, though some losses were recovered Friday. Concerns persist about whether massive infrastructure investments can generate sufficient returns, with major tech firms spending $165 billion on capital equipment in Q2 2026.