AI stocks fell sharply in October amid higher interest rates and doubts about returns on AI spending. Back-to-back leaks suggested slowing growth: OpenAI reported $50 billion in ARR, versus a $70 billion figure leaked in September that was later attributed to accounting differences, while Anthropic reported about $16.8 billion in Q3 revenue, or $67.2 billion annualized, below the $65 billion ARR reportedly reached by end-July. On a podcast with Brad Gerstner, Nvidia CEO Jensen Huang argued that other frontier labs, including xAI, Meta and Google, are growing too, and that frontier labs account for only 25% to 33% of Nvidia's chip demand. Axios reported OpenAI's revenue run rate grew roughly 70% in Q3 versus 46% quarter-over-quarter growth for Anthropic, which the article reads as share loss rather than a broad AI slowdown.
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AI investmentNVDAOpenAIAnthropic
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NVDA
• NeutralNvidia
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.2T |
| Close on 10/16/2026 | 214.14 |
| Change that session | -1.42% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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