OpenAI, the company behind ChatGPT, has revealed to investors that its projected revenue for this year is $50bn (£37bn). This figure, based on sales up to the end of September, represents a $20bn reduction from the $70bn it had indicated to investors last month.
The revised forecast has raised questions about the rapid growth rate in demand for artificial intelligence. The difference in projected revenue partly stems from attempts by OpenAI investors to align their measurement with that of rival Anthropic, which includes revenue from sales via cloud partners like Amazon's AWS and Google Cloud, unlike OpenAI.
News of the $20bn gap impacted US tech stocks on Thursday, with the Nasdaq closing down by 1.4%. Major chip company Nvidia saw a 2.9% fall, Oracle declined by 5.5%, and Micron was down 4.8%.