Nvidia and Micron shares rebound as OpenAI clarifies its revenue picture

Shares of Nvidia and Micron Technology bounced back after follow-up reports clarified that OpenAI’s apparently soft revenue figure came down to how the company counts its sales. A revenue scare, then a correction The trouble started on October 8, 2026, when the Financial Times reported that OpenAI’s annualized revenue run rate stood at approximately $50 billion at the end of September 2026. Investors had been expecting something closer to $68-70 billion, a figure they had pieced together by comparing OpenAI with rival Anthropic. The gap between $50 billion and the high $60s did not go over well. Nvidia shares fell approximately 3%, while Micron dropped nearly 5%. The damage spread beyond the two chipmakers. The Nasdaq slid by 1.25% to 1.4% as the broader AI trade took a hit. Then came October 9. Follow-up reports explained that the shortfall was largely an apples-to-oranges problem: OpenAI does not include certain revenue generated through cloud partners in its run-rate math, while Anthropic does. OpenAI also offered investors something forward-looking to hold onto. According to a Bloomberg report, the company expects its annualized run rate to reach or exceed $70 billion by Decemb...