On October 8th local time, several U.S. semiconductor stocks tumbled collectively. NVIDIA ( NVDA.O ) fell by 2.94%, with its market value evaporating by over $160 billion in one night. TSMC ( TSM.N ) fell by 3.01%, AMD ( AMD.O ) fell by 3.9%, Broadcom ( AVGO.O ) fell by 4.35%, and Intel ( INTC.O ) fell by 5.34%. On that day, the Nasdaq index fell by more than 1%.

Some semiconductor stocks gave back some of the gains they made in the previous few days. On the news front, the annualized revenue of OpenAI fell short of market expectations.

Market sources report that financial documents provided by OpenAI to investors show that as of the end of September, the company's annualized revenue was approximately $50 billion, which is about $20 billion less than previously estimated by the market. Although the methods for calculating annualized revenue differ, investors are attempting to compare the annualized revenue of OpenAI with that of Anthropic in order to estimate the development prospects of OpenAI. Previously, market reports indicated that as of the end of July, Anthropic's annualized revenue had exceeded $65 billion.

If the revenue of OpenAI falls short of expectations or even slows down, it may affect its procurement of computing power. Moreover, several semiconductor stocks have a deep cooperative or equity-linked relationship with OpenAI.

Among them, Broadcom has collaborated with OpenAI to develop a custom AI inference chip. Recently, there have also been reports that Broadcom is in preliminary discussions regarding a $50 billion debt financing deal to help OpenAI raise funds for the development and procurement of custom chips. From October 2nd to October 7th, Broadcom's stock price rose by 9.57%, but on October 8th, its market value evaporated by over $78 billion.

NVIDIA, on the other hand, is a shareholder of OpenAI and a provider of computing power. The cooperation includes NVIDIA's assistance to OpenAI in building and deploying at least 10 gigawatts of AI data centers. There have also been market reports suggesting that NVIDIA is considering providing a $250 billion financing guarantee for OpenAI's data center project.

From September 30th to October 6th, NVIDIA's stock price rose for five consecutive trading days. On October 6th, its market value approached $5.8 trillion during the session, just a step away from the $6 trillion mark. However, with the decline in stock prices over the following two days, by the close of trading on October 8th, NVIDIA's market value had retreated to $5.55 trillion.

There is also a chip supply agreement and equity linkage between AMD and OpenAI. As OpenAI purchases chips from AMD, OpenAI will be able to purchase up to 160 million shares of AMD common stock at a price of $0.01 per share. OpenAI also plans to start deploying the rack-level system Helios from the end of this year. AMD's market value reached a historical high of $1.06 trillion on October 6th, but closed at $1.01 trillion on October 8th, falling back below the $1 trillion mark.

In March this year, OpenAI completed a round of financing, with a post-investment valuation of $852 billion. OpenAI is under pressure to prove the合理性 of its valuation.

Recently, OpenAI has faced quite a few troubles. In addition to revenue pressures, OpenAI announced that it would not consider going public in 2026 after a series of model security incidents. OpenAI has also suspended training, evaluation, and inference work involving tool calls in its cutting-edge models. Furthermore, there are market reports that OpenAI has abandoned the release of its next-generation model GPT-6.1 which was originally scheduled for October. Astra

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