Chip stocks drop on report OpenAI missed ChatGPT growth targets
Shares of Nvidia Corp. and other tech firms dropped following a report that OpenAI Group PBC missed its growth targets last year. OpenAI pushed back against the report, calling it 'prime clickbait' and stating it's 'firing on all cylinders'.
Shares of Nvidia Corp. and other tech firms dropped today after a report that OpenAI Group PBC missed its 2025 growth targets. The Wall Street Journal cited sources saying OpenAI's user base gains and revenue fell short of expectations. OpenAI disputed the report, calling it 'prime clickbait'. Nvidia dropped over 3%, while Advanced Micro Devices Inc. fell 11%. OpenAI's slowing user base growth is reportedly affecting its revenue. The company has committed to purchasing $600 billion worth of data center capacity, with half tied to a five-year deal with Oracle. OpenAI is preparing to go public, seeking a $1 trillion valuation. A slowdown in OpenAI's growth may boost Anthropic's public offering plans.
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