By Danny Vena, CPA
Publication Date: 2026-10-08 21:45:00
Shares of Broadcom (AVGO -4.35%) turned lower on Thursday, falling as much as 5.1%. The stock was still down 4.4% by the time the market closed.
The catalyst that sent the semiconductor and networking specialist lower was news that OpenAI’s revenue was substantially lower than had been previously reported.
Image source: The Motley Fool.
Accounting disclosure
Artificial intelligence (AI) start-up OpenAI revealed that its annualized revenue was roughly $50 billion as of the end of September, significantly lower than the $68 billion that had been widely reported by the financial media late last month.
In an updated presentation shown to potential investors, OpenAI clarified the figure, noting that the $68 billion included gross revenue from the company’s partners and was meant to provide an apples-to-apples comparison to its most direct competitor, start-up Anthropic.
So what does this have to do with Broadcom?
Many AI stocks tend to move together, so the news alone may have been…
