OpenAI Revenue Miss Triggers US Stock Market Sell-Off

US stock markets experienced heavy selling on October 8, 2026, after reports revealed OpenAI had an annualized revenue of approximately $50 billion. This figure was $20 billion lower than the $70 billion previously estimated by the market. The discrepancy stemmed from accounting differences, as OpenAI does not book sales made through cloud partners like AWS and Google Cloud as revenue, a practice that differs from its competitor Anthropic.

The revenue miss triggered a 1.3% drop in the Nasdaq and impacted major AI-related stocks, including Nvidia, Intel, Micron, and Broadcom, as well as energy companies Vistra and Constellation. Amidst this volatility, Broadcom Inc is seeking over $50 billion in financing from lenders including Apollo Global Management and Blackstone to develop custom AI chips for the Nexus program at OpenAI.

Market instability was further compounded by rising Treasury yields and oil price spikes linked to Middle East tensions. President Donald Trump attempted to calm these fears by stating the United States would not attack Iran before the November midterm elections.