OpenAI’s latest quarterly data shows an annualised revenue of $50 billion, a stark 28 % dip from the $70 billion analysts had pencilled in for the same period.
The figure comes from Bloomberg’s exclusive report on the company’s earnings, which also noted that OpenAI is targeting a $70 billion+ revenue floor by the end of the fiscal year.
The shortfall weighed on the technology sector, with the Nasdaq Composite slipping over 1% on Thursday after concerns over the AI firm’s growth trajectory.
Despite the dip, the market rebounded on Friday, as the Nasdaq advanced 0.6% and the State Street Technology Select Sector SPDR ETF rallied roughly 1%, signalling a renewed appetite for tech exposure.
Oil prices offered a further lift, with Brent crude falling to about $103 a barrel, easing pressure on equity valuations across the board.
Looking ahead, OpenAI’s guidance to hit $70 billion+ has researchers revisiting the AI space, while investors watch for next quarter’s earnings to confirm whether the company can close the gap between expectations and reality.