Nasdaq falls 1% as AI trade stumbles following OpenAI revenue setback: Live updates - CNBC — SkimNews
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- Nasdaq dropped about 1% as the AI trade stumbled following a report that OpenAI's annualized revenue is roughly $20 billion below prior figures.
- OpenAI is generating $20 billion less in annualized revenue than previously reported, a disclosure that triggered selling across AI-linked tech stocks.
Why it matters: The $20 billion gap between OpenAI's previously cited revenue and the newly disclosed figure is the direct catalyst for the Nasdaq's 1% slide, calling into question the revenue assumptions underwriting elevated AI stock valuations across the sector.
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