Nvidia, AMD shares fall as OpenAI revenue report rattles AI investors

Nvidia and AMD shares slid on October 8, 2026, after the latest AI news gave investors less to cheer about than they had hoped. The spark was a single number about a company neither chipmaker owns. A Financial Times report said OpenAI’s annualized revenue run rate was around $50 billion at the end of September. That sits $20 billion below the $70 billion figure that had been circulating. The damage, by the numbers Nvidia shares fell approximately 2.9%, landing around $230.60. AMD took a harder hit, declining around 4.55% to approximately $616.48 intraday. The selling did not stay contained to the two GPU giants. Oracle shares dropped approximately 4.7–5%, while Broadcom fell around 4.3%. Memory maker Micron also lost about 4.3%. The Nasdaq Composite slipped approximately 1% for the session, with the decline reaching as much as roughly 1.25% by some measures. Why one company’s revenue moved so many stocks OpenAI has been a major buyer of hyperscale AI infrastructure, meaning the massive data center capacity that runs and trains large models. Both chipmakers have direct exposure. Nvidia supplies GPUs to OpenAI, the chips that do the heavy computational lifting behind AI models. AMD’s...