OpenAI's $50B run rate rattles AI stocks and investors
Business
OpenAI told investors it had hit roughly $50 billion in annualized revenue at the end of September, and that news hit the stock market hard.
NVIDIA, Oracle, CoreWeave, and other AI names sank lower on Thursday, while investors got a little nervous about what this means for future business.
OpenAI eyes 2027 IPO $30B
Even with the revised numbers, OpenAI is still growing fast. Its overall run rate jumped 77%, and its enterprise side grew by 107% last quarter.
The company is eyeing a massive IPO in 2027 (it has already filed paperwork quietly) and might raise around $30 billion.