Bloomberg: OpenAI told investors it expects $70B+ annualized revenue by year-end, offsetting FT's $50B shortfall report
What happened
Bloomberg reported on Oct 9 that OpenAI has told prospective investors it expects annualized revenue to reach or exceed $70 billion by the end of 2026, driven largely by growth in its enterprise business. The ChatGPT-maker's annualized revenue was roughly $50 billion at the end of September, the report said — but the company shared the $70B year-end figure with investors as part of discussions for its latest fundraising round, in which it is in talks to raise $30B or more at a $1.4 trillion pre-money valuation. The report directly countered Thursday's Financial Times account that had triggered a broad AI-stock sell-off (Nasdaq 100 -1.4%), and software stocks rebounded sharply on Friday: Zscaler +7.8%, Snowflake +7.4%, Datadog +7.1%, Palantir +5.2% to a new all-time high, Microsoft +2.4%.
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Who’s affected
- Nvidia (NVDA) — the central AI-infrastructure name; chip stocks fell hardest on the FT report and the $70B target directly addresses the revenue-justification concern
- Microsoft (MSFT) — core OpenAI partner/investor; jumped 2.38% Friday as software rebounded
- Software/AI names (Snowflake, Zscaler, Datadog, CrowdStrike, Palantir) — led Friday's rebound; Palantir hit a new all-time high
- Semiconductor sector (SOX) — was down 3.4% Thursday on the shortfall report
- SoftBank Group — exposed via AI-investment exposure; fell ~4% in Tokyo Thursday