Shares of NVIDIA (NVDA), Oracle (ORCL), CoreWeave, Inc. (CRWV), and other AI-related companies declined on Thursday after the market learned more details about OpenAI's revenue.

OpenAI told investors that its annualized revenue stood at roughly $50 billion as of the end of September, below the $68 billion widely reported at the end of last month.

A person familiar with the matter said the $68 billion figure included the combined revenue of OpenAI's partners, which helps investors compare it more directly with its main competitor, Anthropic.

OpenAI shared its financial update during an investor presentation. In addition to the $50 billion in annualized revenue, OpenAI also touted 77% growth in its total run rate in the third quarter, along with 107% run-rate growth in its enterprise business over the same period.

With the market widely expecting OpenAI to pursue a blockbuster IPO, the company is under pressure to justify its $852 billion valuation to investors. OpenAI confidentially filed its prospectus with regulators in June, and executives have hinted that the company is considering a listing in 2027.

Meanwhile, OpenAI is in early-stage discussions with investors about a potential new funding round. The company could raise about $30 billion, though that figure may change. The round is being driven by investor demand, and the terms sheet has not yet been finalized.

OpenAI completed a historic $122 billion funding round in March, and Chief Financial Officer Sarah Friar said last week that the company remains "very well capitalized."