A report that OpenAI’s annualised revenue was $50 billion, about $20 billion below previous estimates of $70 billion, rattled technology stocks. The news stoked concerns about AI monetisation, with chip stocks falling and the Nasdaq underperforming. Some later reports offered clarification on the figures, but the sell-off highlighted investor sensitivity to signs that AI revenues may not match lofty expectations.

The episode comes as AI companies race to turn massive infrastructure spending into profits. OpenAI is also testing visual advertisements in ChatGPT in the US as it seeks new revenue streams, while rival Anthropic launched Claude Haiku 5.5 for fast, low-cost AI tasks. Markets will watch whether the revenue debate affects the pace of AI investment in the coming quarters.

The developments underscore intensifying competition as AI labs seek to expand adoption beyond premium subscriptions. Investors remain sensitive to any sign that AI monetisation may not meet the market’s lofty expectations.