Oracle, CoreWeave, Nvidia Stocks Fall on Report of $50 Billion OpenAI Revenue

Oracle closed down 5.48% and CoreWeave 7.77% on Thursday after reports that OpenAI told investors its annualized revenue was about $50 billion, not the roughly $70 billion reported in September. Oil prices and bond yields also weighed on stocks, and SoftBank fell more than 6% in Tokyo on Friday.

Shares of several companies tied to OpenAI’s computing build-out fell on Thursday, October 8, 2026, after reports that the ChatGPT maker had told investors its annualized revenue stood near $50 billion at September’s end. Oracle and CoreWeave stock were among the hardest hit: Oracle closed down 5.48% and CoreWeave down 7.77%, according to Yahoo Finance quote pages. Nvidia slipped 2.94% and Microsoft 1.35%. The Nasdaq Composite dropped 1.25%, although oil prices and Treasury yields were already pressing on stocks before the OpenAI story broke.

Where it stands: Late Thursday, New York time, Bloomberg reported that OpenAI expects its 2026 run-rate revenue to reach or top $70 billion, citing people familiar with the matter. Bloomberg’s story is paywalled; Life Stonks could read it only as a headline relayed by the newswire Newsquawk. At Friday’s open in Tokyo, SoftBank Group shares were down more than 6%, CNBC reported, while U.S. stock futures edged higher.

What investors learned on Thursday

The Financial Times broke the story around midday. Reuters and CNBC then confirmed it through people familiar with the matter: OpenAI had given investors an annualized revenue figure of roughly $50 billion as September ended. CNBC’s source said the update came in an investor presentation. In late September, several outlets had put the figure near $70 billion, and CNBC had used $68 billion.

News reports trace the gap to how sales are counted. Anthropic, OpenAI’s closest rival, includes sales made through cloud partners at their gross value. A source told CNN that OpenAI’s own figure “is based on net revenue,” and Reuters’ source said the higher number came from trying to put OpenAI on the same footing as Anthropic. OpenAI declined to comment to CNN and did not respond to Reuters. For background on why run-rate numbers are not the same as the revenue a public company reports, see our explainer on whether AI revenue run rates are comparable to annual sales in stock filings.

Thursday’s closing moves for Oracle and CoreWeave stock

The table uses official closing changes as shown by Yahoo Finance. They are more precise than the rounded numbers in most news stories.

Company Thursday close change Source
CoreWeave (CRWV) -7.77% Yahoo Finance quote page
Oracle (ORCL) -5.48% Yahoo Finance quote page
Nvidia (NVDA) -2.94% Yahoo Finance market blog quote
Microsoft (MSFT) -1.35% Yahoo Finance quote page

Outlets rounded these moves in different ways, and some figures may have been taken before the final bell. CNBC’s main story had Nvidia down 3%, Oracle down nearly 6% and CoreWeave down nearly 8%. CNN reported Oracle at 5.5% and Nvidia at 2.9%. CNBC’s Friday market blog put CoreWeave’s loss at more than 7%. The same CNBC story listed Advanced Micro Devices and Broadcom down 4% each and Intel down 5%; CNN had Intel at 5.3%.

Microsoft’s 1.35% drop was the smallest of the four in the table. Like the others, it came on a day when oil prices and bond yields were also weighing on the broader market.

The Nasdaq’s worst day since mid-August

The Nasdaq Composite fell 1.25% to close at 27,193.34, according to CNBC, while the S&P 500 slipped 0.47%, closing at 7,765.36. The blue-chip Dow went the other way, adding 0.1% to finish at 51,231.64. CNN called it the Nasdaq’s worst day since mid-August.

The timing points to the OpenAI report as a factor. According to CNN, “The indexes had opened lower but declines accelerated after the FT report published midday.” Chipmakers were among the hardest hit: Yahoo Finance reported that the Philadelphia Semiconductor Index fell as much as 4% at one point in the session before recovering part of the loss.

“This has become a much narrower market that’s dependent on the AI names to keep it afloat,” Ross Mayfield, an investment strategist at Baird, told CNN.

Oil, bond yields and Broadcom: the other forces that day

OpenAI was not the only thing moving markets. Oil prices jumped after President Donald Trump said he did not want a deal with Iran to end the war, and Brent crude was up 4.07% at $104.28 a barrel, CNBC reported. Prices came off their highs after Trump later said the U.S. would not attack Iran before the November midterm elections.

Interest rates were a second source of pressure. CNBC noted that 10-year and 30-year Treasury yields had climbed to fresh 24-year highs earlier in the week, and Yahoo Finance said the 10-year was still at multidecade highs on Thursday morning. Stocks opened lower as oil turned up and yields kept rising, Yahoo reported. Yields eased later in the session.

Broadcom had a catalyst of its own before the FT story appeared. It traded nearly 2% lower before the opening bell following a Wall Street Journal report that the chipmaker was arranging more than $50 billion in financing tied to custom AI chips it is building with OpenAI.

Taken together, CNBC, CNN and Yahoo Finance all linked the tech selloff to the OpenAI report, and CNN’s account of the midday acceleration supports that link. But the indexes were already lower that morning, for reasons Yahoo Finance tied to oil and bond yields. Closing prices alone cannot show how much of any single stock’s drop came from the revenue news.

The Sept. 29 rally, in reverse

The same kind of report moved Oracle in the opposite direction less than two weeks earlier. On Sept. 29, the day of OpenAI’s DevDay developer event, Axios first reported, and a source then confirmed to Reuters, that OpenAI’s annualized recurring revenue was approaching $70 billion. Oracle stock rose 5.3% that Tuesday, Quartz reported.

Both moves rested on numbers passed along by people familiar with OpenAI’s investor communications. Neither came from a public OpenAI statement, and OpenAI, as a private company, does not release quarterly results.

Why these stocks trade on OpenAI headlines

CoreWeave has spelled out its tie in its own words. Its September 2025 press release said a new deal brought the total contract value with OpenAI to up to approximately $22.4 billion. Those are maximum contract values, not revenue booked in any one year.

For Oracle, the size of the OpenAI link comes mostly from analysts’ estimates and press reports rather than from Oracle itself. On Sept. 29, D.A. Davidson’s Gil Luria told Reuters: “Oracle’s fate is largely tied to the success of OpenAI, which represents around half of its compute backlog.” That is his estimate, not an Oracle disclosure. We go through what Oracle, Microsoft, CoreWeave, Nvidia, AMD and SoftBank have each disclosed in our guide to how much these companies depend on OpenAI.

Friday: SoftBank in Tokyo and Bloomberg’s $70 billion report

Bloomberg’s late-Thursday report, as relayed by Newsquawk, said OpenAI sees its 2026 run-rate revenue reaching or topping $70 billion. The item also put OpenAI’s end-of-September annualized revenue at around $50 billion. The story rests on anonymous sources, and Life Stonks found no readable confirmation from another outlet. Newsquawk’s own commentary added a caution: “The read-through to peers is directional only; the number itself is unverifiable until the company puts accounts on the record.”

In Tokyo on Friday, Japanese tech shares mostly fell, following Thursday’s U.S. losses, CNBC reported, and SoftBank Group dropped more than 6% after the open. Back in the U.S., S&P 500 futures were up 0.3% and Nasdaq 100 futures were up 0.49% early Friday, according to CNBC.

Frequently Asked Questions

Why did Oracle stock fall on October 8, 2026?

Oracle closed down 5.48% after the Financial Times, followed by Reuters and CNBC, reported that OpenAI had told investors its annualized revenue was near $50 billion at September’s end, well below the roughly $70 billion reported in late September. Analysts tie Oracle closely to OpenAI as a computing customer. Rising oil prices and high Treasury yields also weighed on stocks that day, so the report was not the only factor.

How much did CoreWeave stock drop after the OpenAI revenue report?

CoreWeave closed down 7.77% on Thursday, October 8, according to its Yahoo Finance quote page. CNBC rounded the decline to nearly 8% in its main story and to more than 7% in its Friday market blog.

Does the $20 billion gap mean OpenAI’s sales fell?

No. As Benzinga put it, “The discrepancy does not mean OpenAI lost $20 billion in sales.” The outlets describe a counting difference: the higher figure tried to match Anthropic, which counts sales through cloud partners at their gross value. A source told CNN that OpenAI reports on a net basis. OpenAI declined to comment to CNN and did not respond to Reuters.

What did Bloomberg report about OpenAI revenue after the market closed?

Late on Thursday, New York time, Bloomberg reported, citing people familiar with the matter, that OpenAI sees its 2026 run-rate revenue reaching or topping $70 billion. The article is paywalled and was read here only through a Newsquawk headline, so treat it as a single-source report.

Was the OpenAI report the only reason tech stocks fell on Thursday?

No. Stocks opened lower before the FT story as oil prices rose and Treasury yields sat near multidecade highs, and Broadcom was already down before the bell on a separate Wall Street Journal report. CNN said declines accelerated after the FT report was published at midday.

Sources

This article is for general information only and is not investment, tax or legal advice. Life Stonks does not recommend buying or selling any security. Figures are as reported by the sources cited on the dates shown; several come from people who spoke to reporters on condition of anonymity and can change. Check company filings and talk to a licensed professional before making a financial decision.