According to Woofun AI, a correction to OpenAI's annualized revenue data sent shockwaves through capital markets, with core holdings such as NVIDIA (NVDA.US) falling in response.
On Thursday, NVIDIA shares dropped 2.94%, directly triggered by OpenAI's disclosure that its annualized revenue stands at approximately $50 billion, a shrinkage of about $18 billion compared to the $68 billion widely reported last month. Alex Kantrowitz, founder of Big Technology, explained on CNBC's "Closing Bell" that the discrepancy mainly stems from differences in accounting treatment.
NVIDIA closed that day at $230.48, down about 5% from the all-time high of $243.37 set on Tuesday.
As a beneficiary of a multi-billion-dollar partnership agreement signed with OpenAI, AMD (AMD.US) shares fell 3.9% on the same day, while Oracle (ORCL.US) declined by more than 5%.
Despite short-term pressure, data compiled by Woofun AI shows that NVIDIA is still up 24% this year, with a market capitalization approaching $5.6 trillion, and last quarter's revenue of $96.22 billion beat expectations of $92.16 billion, indicating that its fundamentals remain strong.
On the macroeconomic front, Google Finance data shows that the top seven stocks in the S&P 500 have outperformed the remaining 493, with the technology sector accounting for over 40%, meaning market movements are highly dependent on the performance of OpenAI and Anthropic.
Kantrowitz noted that AI investment sentiment is becoming more cautious, with some spending shifting toward traditional models. In sharp contrast, Wedbush Securities analyst Dan Ives included NVIDIA among his top five technology stocks with the greatest investment value for 2027, arguing that the market is underestimating a future $4 trillion AI investment scale.
On the risk warning front, Kantrowitz expects Anthropic to launch an IPO within a few weeks, with OpenAI potentially following next year. Leaked U.S. listing application documents reveal that Anthropic's losses are already outpacing its revenue growth. As the two companies' IPOs approach, the market is waiting for negative news to trigger further selling, and these documents will ultimately test whether AI revenue is sufficient to support NVIDIA's current valuation.