Oracle Shares Fall 5% on OpenAI Revenue Discrepancy; AI Stocks Wobble

On Thursday, October 8, Oracle's stock dropped over 5% following a report that cast doubt on OpenAI's actual revenue.

The decline spread to other AI-related names. Broadcom fell almost 4%, Nvidia lost more than 2%, and Microsoft shed over 1% in Thursday's session.

The catalyst was a Financial Times report indicating that OpenAI's annualized revenue approached $50 billion at the end of September, versus the $70 billion previously reported.

However, the $20 billion gap mainly reflects differences in how revenue is calculated. It does not mean OpenAI lost $20 billion in actual sales. According to reports, its revenue has grown more than 70% since July.

This is not a Bitcoin or any crypto chart. It's Oracle stock $ORCL 🤯

The stock crashed 5% after reports showed OpenAI's annualized revenue was $20 billion below earlier estimates.

Oracle is one of the main infrastructure providers powering ChatGPT.

In September 2025, Oracle… pic.twitter.com/KVCk9F1zIf

— BeInCrypto (@beincrypto) October 8, 2026

Why Did Oracle Stock Fall So Hard?

Oracle's fortunes are now closely tied to OpenAI's future expenditure.

In September 2025, the two firms reportedly signed a $300 billion, five-year cloud computing agreement.

That contract accounts for about 45% of Oracle's $664 billion backlog of future contracted revenue.

Timing poses a problem: Oracle must pour billions into expensive data centers before collecting most of that revenue.

Its latest quarterly results showed $28.5 billion in capital expenditure and negative free cash flow of $5.4 billion.

Separately, the Wall Street Journal reported on Thursday that Oracle is exploring additional financing for AI chips.

Oracle maintains that AI cloud demand "continues to grow faster than supply."

Investors are now questioning whether OpenAI's revenue can sustain its massive commitments.

Which AI Stocks Could Be Next?

A number of large companies share a similar vulnerability.

• CoreWeave (CRWV) has disclosed cloud contracts with OpenAI worth up to $22.4 billion.
• Broadcom (AVGO) is developing custom AI chips with OpenAI and is reported to be arranging over $50 billion in financing.
• AMD (AMD) has a six-gigawatt chip agreement, while Nvidia (NVDA) has a 10-gigawatt infrastructure partnership.
• SoftBank (9984.T) also faces exposure through its multibillion-dollar OpenAI investment.

If OpenAI's growth disappoints, these stocks could face additional pressure. Their risk depends on how much future business investors have already priced in.