OpenAI's revenue turns out to be $20bn lower than investors believed, rattling AI stocks

From the Newshound archive · first published 9 October 2026 · last updated 10 October 2026.

OpenAI's annualised revenue was approaching $50bn at the end of September — roughly $20bn below the $70bn figure its backers had been circulating. The shortfall does not mean the ChatGPT maker missed a sales target; the higher number used a rival accounting method that counts cloud-platform spending, which OpenAI excludes.

Valued at $852bn in March, OpenAI is said to be pursuing at least $30bn in new capital at a $1.4tn valuation, making the credibility of its revenue figures a key concern for investors.