Oracle, AMD, and CoreWeave Stocks Sink After OpenAI Misses Revenue Targets
April 28, 2026 — According to a report by The Wall Street Journal, OpenAI has missed key revenue and user growth targets in its high-stakes sprint toward an IPO. The news sent shockwaves through the AI industry chain, with shares of Oracle, AMD, and AI compute rental company CoreWeave all falling sharply.
Revenue Falls Short of Expectations
The Wall Street Journal, citing people familiar with the matter, reported that OpenAI’s key financial metrics during its IPO preparation phase failed to meet both internal and external analyst expectations. As one of the world’s most closely watched AI companies, OpenAI’s revenue performance directly affects the valuation logic of the entire AI industry chain.
According to Forbes, companies with deep business partnerships or equity ties to OpenAI saw their stock prices drop in response to the news. Investors began reassessing whether the AI industry’s high-growth narrative remains sustainable.
Ripple Effects Across the Supply Chain
Oracle, one of OpenAI’s primary cloud infrastructure partners, saw its stock price directly affected. Oracle has provided large-scale computing resources for OpenAI, and their partnership is regarded as one of the most significant AI collaborations in the cloud computing sector.
AMD, a key player in the GPU chip market, saw its shares decline as investor concerns grew about the possibility of slowing AI chip demand growth. Despite AMD’s continued push in AI accelerator chips, OpenAI’s revenue miss triggered a broader market reassessment of growth prospects across the entire AI hardware ecosystem.
CoreWeave, a specialized AI compute rental company, relies heavily on the growth of large model training and inference demand. OpenAI’s user growth slowdown directly impacted market expectations for its future revenue growth.
Industry Reflection
Analysts point out that OpenAI’s failure to meet targets may signal a transition in the AI industry from explosive growth to more normalized operations. As large model technology matures, competition intensifies, and inference costs remain stubbornly high, AI companies face mounting growth pressures.
This event has also prompted investors to reconsider the valuation rationality of AI-related stocks. Previously, AI-related equities generally enjoyed significant valuation premiums, but the market is now paying closer attention to AI companies’ actual revenue generation capabilities and profit prospects.
Source: Yahoo Finance, WSJ, Forbes