OpenAI's $50 billion revenue figure sent Oracle, CoreWeave and AI chip stocks lower on October 8, 2026

Shares of companies that supply computing capacity to OpenAI fell on Thursday, October 8, 2026, after the Financial Times reported that OpenAI's annualized revenue was about $50 billion at the end of September, roughly $20 billion below the figure investors had been circulating. Oracle closed down 5.48% at $135.69 and CoreWeave fell 7.77% to $81.58, while Nvidia lost 2.94% and AMD 3.90%.

The report reached the MoveSurge news feed at 12:43:42 ET. CoreWeave traded at $83.80 just before it, at $83.16 a minute later, down 0.76%, at $80.95 ten minutes later, down 3.40%, and at $81.10 after fifteen minutes, down 3.22%. Oracle's measured drop began 21 seconds earlier, when a separate report that the company is considering trucking natural gas to its Project Jupiter data center in New Mexico crossed the feed. Its shares went from $140.37 to $137.61 in a minute, a 1.97% fall, and were at $135.62 ten minutes later, down 3.38%; the two Oracle headlines arrived too close together to separate their effects.

Where the $20 billion difference comes from

The gap comes from how the number was calculated. Anthropic counts sales of its models made through cloud partners such as Amazon Web Services and Google Cloud in its annualized revenue, while OpenAI reports its figure without that partner revenue. Investors had adjusted OpenAI's number to compare it with Anthropic's, and CNBC put the widely reported figure at $68 billion, saying it included gross revenue from OpenAI's partners. According to CNBC, OpenAI also cited 77% growth in its total run rate.

Why the suppliers' shares moved most

OpenAI's revenue is what pays for the computing capacity it has contracted. Oracle signed a five-year, $300 billion cloud contract with OpenAI in 2025 that begins in 2027, and CoreWeave's agreements with OpenAI add up to about $22.4 billion after contracts signed in March, May and September 2025. A smaller revenue base raises the share of OpenAI's income those commitments represent, even with the growth rate unchanged. Oracle and CoreWeave, the two companies in the table with the largest disclosed OpenAI contracts, had the biggest falls.

For Oracle the report landed in a difficult stretch for Project Jupiter, the 2.5-gigawatt campus it is building in Doña Ana County. The pipeline meant to supply its gas has been delayed to February 1, 2027, and on September 24 Oracle sent a force majeure notice to Stack Infrastructure, the Blue Owl unit developing the site. The trucked-gas plan reported on October 8 would let early stages of the campus run before the pipeline arrives, at roughly four times the cost of pipeline gas.