Micron, Nvidia shares fall after OpenAI revenue report raises concerns

AI chip stocks had a rough Wednesday. Shares of Nvidia, Micron Technology and other AI-linked names slid on October 8, 2026, after OpenAI’s annualized revenue run rate came in at approximately $50 billion as of the end of September. That number landed well short of prior estimates in the $68–70 billion range. What spooked the market The damage spread quickly. Nvidia shares dropped around 3%, while Oracle fell by roughly 5% to 6%. Other chip names took it on the chin too. AMD, Broadcom and Intel each saw declines in the 4% to 5% range. The broader market felt it as well. The Nasdaq Composite fell approximately 1.25% on the day. A smaller number, not necessarily a smaller business The gap between the roughly $50 billion run rate and earlier estimates was attributed to differences in how OpenAI and rival Anthropic account for revenue. Comparing them side by side had apparently inflated expectations for OpenAI, rather than signaling that its business had stalled. OpenAI’s overall third-quarter run rate grew 77%. Its enterprise segment did even better, with run-rate growth of 107%. Micron’s awkward position Micron’s slide stands out because its own fundamentals have been tied directly t...