StocksMediumUpdated×2•Originally published 9 October 2026•Updated 9 October 2026•
1 min read
Nvidia Shares Rise as OpenAI Forecasts $70B Annualized Revenue
Key Facts
1Shares of CoreWeave, Oracle, and Coherent began recovering as investors digested accounting details related to OpenAI.
OpenAI refuted reports of a revenue shortfall, stating it expects to reach $70 billion in annualized revenue by the end of the year. The clarification drove Nvidia shares up 2%, reversing earlier market concerns regarding the financial trajectory of the artificial intelligence sector.
The positive outlook provided a boost to investor sentiment across AI infrastructure and technology providers. ORCL closed at $135.69 on October 8, 2026, while COHR and CRWV ended the same session at $302.35 and $81.58 respectively, prior to the OpenAI announcement that has now anchored expectations for continued growth in cloud and hardware spending.