Nasdaq Drops Over 300 Points After OpenAI's Revenue Comes In $20 Billion Short

BeInCrypto2026/10/08 18:33

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The Nasdaq 100 fell more than 300 points in about half an hour on Thursday afternoon. The slide came right after a report that OpenAIs revenue is running about $20 billion below the figure widely reported last month. The tech index was already under pressure before the report. Bond yields at a two-decade high, oil above $90 and worries about AI borrowing had pushed futures lower since early trading. Nasdaq 100 (US Tech 100 Cash) 5-minute chart. Source: TradingView OpenAIs Revenue Reportedly $20 Billion Short On September 29, reports indicated that OpenAI annualized revenue reached $70 billion. On Thursday, however, a new report from the Financial Times, citing a note to OpenAI investors, said the Sam Altman-led firm has told investors its annualized revenue was approaching $50 billion at the end of September. Annualized revenue takes a companys current sales pace and stretches it over a full year. It is a projection, not money already booked. The difference comes down to accounting, according to the FT. Anthropic, which is preparing its own Nasdaq listing, counts sales made through cloud partners such as Amazon Web Services and Google Cloud. OpenAI does not. Investors who adjusted OpenAIs numbers to match Anthropics method arrived at the higher estimate. Open AI reports revenues differently from Anthropic. This number isn't apples to apples. OpenAI still told investors its revenue grew more than 70% over the period. The company booked $13.07 billion in revenue for all of 2025, according to audited documents cited by Quartz. What Else Was Dragging Tech Stocks Lower Nasdaq 100 futures were already down 0.5% early Thursday. The 30-year US Treasury yield hit its highest level in more than two decades. Brent crude climbed above $100 a barrel on Middle East supply worries. AI debt was a third weight. Broadcom is seeking more than $50 billion in financing for a custom chip it is building with OpenAI, the Wall Street Journal reported. Skeptics such as Michael Burry have already said markets should fall far enough to block the AI IPOs. Revenue at OpenAI and Anthropic is a key gauge of AI demand and drives infrastructure spending, the FT noted. On Thursday, two ways of counting it sat $20 billion apart. Read the article at BeInCrypto

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October 9 - ** Shares of Australian Maas Group (MGH.AX) have fallen more than 27% so far this week and are set for their worst weekly performance if the downward trend continues. ** On Thursday, media reported that Firmus, backed by Nvidia, might reduce the size of its AUD 5 billion Australian IPO (link), sparking investor concerns and leading to a 30% plunge in shares of construction services provider MGH. ** MGH holds a 3.2% stake in this AI data center operator. ** MGH suspended trading on Friday (link), pending an announcement related to Firmus. Firmus has shelved its AUD 5 billion listing plan due to market volatility and conditions. ** Before the suspension, MGH's shares had already fallen over 8% this year. (For the convenience of non-English speakers, Reuters automatically translates its reports into several other languages. This automated translation may contain inaccuracies or omit the desired context; Reuters does not guarantee the accuracy of automated translations and provides them solely for reader convenience. Reuters accepts no liability for any harm or loss caused by the use of automated translations.)

路透社•2026/10/09 01:26

Apple to launch dual products in October: First touch-screen MacBook and new iPad mini to debut simultaneously

Apple is planning to hold its second product launch event of the month around October 27, where it will introduce its first-ever touchscreen MacBook Pro (featuring an OLED display and the “Dynamic Island” interface), a new iPad mini (also upgraded with OLED and a repositioned camera), as well as a 14-inch MacBook Pro and iMac powered by the M6 chip. These are the first major products overseen by the new CEO, John Ternus.

华尔街见闻•2026/10/09 01:01

BUZZ - Driven by active trading, the Australian Securities Exchange (ASX) is on track for its best week in two months

October 9 – The stock price of ASX ASX.AX, the operator of the Australian Securities Exchange, has risen more than 3.8% so far this week, on track for its best weekly performance since early August. On Thursday, Citi raised its annual earnings per share (EPS) forecast for ASX by 2%, citing continued strong trading activity. On Friday, the stock was up as much as 0.3% to 60.79 AUD. Citi also holds a positive view of ASX’s new CEO, Anthony Attia, agreeing with his approach of bringing in external talent and modernizing technology. Including the latest gain, the stock is up 18% year-to-date. (For the convenience of non-English speakers, Reuters provides automated translations of its reports into several other languages. Since automated translations may contain errors or lack context, Reuters does not guarantee the accuracy of the translation. The automated translation is provided solely for the convenience of readers, and Reuters accepts no liability for any damage or loss arising from the use of the automated translation.)

路透社•2026/10/09 00:56

Goldman Sachs upgrades Palantir (PLTR.US) to "Buy" with a price target of $230, optimistic about AI growth continuing through 2027.

Goldman Sachs has upgraded enterprise software company Palantir from "Neutral" to "Buy," citing the company's recent underperformance in stock price and increased valuation attractiveness.

智通财经•2026/10/09 00:46