AI stocks fall after report that OpenAI's annualized revenue is lower than believed

A Financial Times report said OpenAI told prospective investors its annualized revenue was approaching $50 billion, below the $68 billion widely reported two months earlier. The gap was attributed to gross revenue including partner revenue in the earlier figure versus net revenue in the newer one. The Nasdaq fell 1.25% and Oracle dropped 5.5%, while OpenAI and Anthropic prepare for IPOs.