The Financial Times reported that OpenAI’s annualized revenue was approximately $20 billion below market expectations. Meanwhile, President Trump denied that the United States would attack Iran before the midterm elections. Developments in the U.S. stock market and crude oil markets were also reported.
U.S. markets were mixed on the 8th, with the Dow edging higher while the S&P 500 and Nasdaq fell for a second straight day. As concerns spread over supply and demand for AI-related stocks, reports that OpenAI’s annualized revenue would fall short of previous expectations affected market sentiment.
Based on disclosures to investors, the Financial Times reported that OpenAI’s annual revenue was approximately $20 billion lower. Differences in the methodology used to compile the figures in comparison with Anthropic’s revenue were cited as the background, including differences in how revenue generated through the cloud is recognized.
President Trump denied that the United States would attack Iran before the midterm elections and said that constructive dialogue was under way. Crude oil prices rose in connection with these developments, while the direction of long-term interest rates became a focus for the market.
Following the reports on OpenAI, selling spread across AI-related stocks such as Microsoft, NVIDIA and Oracle. Developments in telecommunications stocks were also affected after SpaceX acquired additional spectrum.
There were periods when overall market sentiment weakened amid developments at companies such as Apple and Palantir, as well as broader market factors including higher crude oil prices and interest-rate trends.