Oracle Stock Crashes After OpenAI's Revenue Gap. Who's Next?

Oracle shares plunged more than 5% on Thursday, October 8, after a report raised fresh questions about how much money OpenAI is actually making.

The selloff spread across AI stocks. Broadcom fell nearly 4%, Nvidia dropped more than 2%, and Microsoft lost over 1% during Thursday’s trading.

The trigger was a Financial Times report showing OpenAI’s annualized revenue approaching $50 billion at September’s end, compared with the $70 billion previously reported.

However, the $20 billion gap largely reflects differences in revenue calculations. It does not mean OpenAI lost $20 billion in actual sales. Its revenue has reportedly 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 has become heavily dependent on OpenAI’s future spending.

In September 2025, the companies reportedly signed a $300 billion cloud computing agreement spanning five years.

That represents roughly 45% of Oracle’s $664 billion backlog of contracted future revenue.

The problem is timing. Oracle must invest billions in expensive data centers before collecting much of that revenue.

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

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

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

Investors are questioning whether OpenAI’s revenue can support its enormous commitments.

Which AI Stocks Could Be Next?

Several major companies have similar exposure.

• CoreWeave (CRWV) has announced cloud contracts worth up to $22.4 billion with OpenAI.
• Broadcom (AVGO) is developing custom AI chips with OpenAI and reportedly 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.

These stocks could face further pressure if OpenAI’s growth disappoints. Their risk depends on how much future business investors have already priced in.