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OpenAI Reportedly Missing Revenue Targets: Investors Be Cautious
The Wall Street Journal is reporting this morning that OpenAI missed multiple monthly revenue targets earlier this year and fell short of its goal of reaching one billion weekly active users for ChatGPT. CFO Sarah Friar has reportedly raised internal concerns about whether the company can fund its massive data center commitments if revenue does not accelerate. OpenAI has roughly $600 billion in future data center spending locked in and expects to burn through $25 billion in cash this year against a $30 billion revenue target. Oracle is down over 7% in premarket and SoftBank dropped nearly 10%…
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