OpenAI Revenue Report Sinks Chip Stocks as Samsung Posts Record Profit

It was a rough day for the AI trade. The Financial Times reports that OpenAI told investors its annualized revenue is approaching fifty billion dollars, roughly twenty billion less than the seventy billion figure signaled late last month. The difference is partly methodology, but chip stocks sank anyway.

Nvidia fell nearly three percent, AMD three point three, Broadcom between three and four, Micron more than four, Oracle nearly five, TSMC three point three, and Intel five point three. Tech was the worst sector in the S&P 500. The report also says OpenAI has pushed its public offering to early next year, with rival Anthropic expected to list in November.

Samsung, meanwhile, posted a record: preliminary third-quarter operating profit of a hundred and seven point four trillion won, about eighty billion dollars, up nearly eightfold from a year ago. It is the first time any tech company has topped a hundred trillion won in a quarter, powered by the AI memory boom. But revenue missed estimates, and the shares slipped anyway. That is the fourth straight record quarter for the company.

Elsewhere in chips, TSMC's September revenue jumped more than fifty-four percent from a year ago, the Wall Street Journal reports Broadcom is arranging more than fifty billion dollars in financing for OpenAI's custom chips, and Google Cloud has introduced a new Gemini agent.

Taken together, the day showed two sides of the same trade: demand for AI hardware and memory still setting records at companies like Samsung and TSMC, while investors reacted quickly to any sign that the revenue at the center of the boom might be smaller than expected.

From the October 9 episode of The World Briefing Room.